Wall Street has a concept called “velocity of money.” If it is too slow, people wait around for the next buck; they’re unemployed. What makes money go around at a brisk pace is consumer confidence. Confidence begets activity. Activity invokes buying and selling; Buying and selling makes money go around. It starts at the base!
We’ve heard about trickle down. Here’s trickle up. If worry about where the next buck comes from pervades the broad base of the population, they will buy nothing but the absolute necessities, eschew investment opportunities and, economically hunker down. When that kind of fear trickles up, the economy seizes. The base matters. What moves the base into levels of greater confidence about the future matters most. Preoccupation with preserving the wealth of the upper 1% ignores this important truth, to the hazard of us all.
- Serves on the Manalapan Township Finance Committee,
- Served on the Manalapan Township Environmental Commission,
- Testified before the NJ Board of Public Utilities, BPU, and US Nuclear Regulatory Commission, NRC, on Energy Policy and the Clean Energy Program,
- Authored articles on environmental policy for major periodicals.
- Co-Founded Popular Logistics, an on-line resource on Energy and Economics,
- Holds a BS in Biology from CUNY College of Staten Island, 1981, and an MBA in Sustainability from Marleboro College, Vermont, 2011.