The Virtue of Hoarding

Discussion in 'Economy' started by Kevin_Kennedy, Oct 10, 2009.

  1. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    The Virtue of Hoarding - George F. Smith - Mises Institute
     
  2. eagleseven
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    eagleseven Quod Erat Demonstrandum

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    There's also the virtue of hoarding necessities....behavior common to squirrels and men.

    [​IMG]
     
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  3. JD_2B
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    JD_2B Little Vixen

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    My mom was a pack-rat- but certainly not a hoarder..

    And she saved money well, without being a money hoarder.. She shopped a LOT, really..

    I can see the point of the thread though. It is better to find balance, than to stifle all spending. OK.

    I do not want to minimize the thread's purpose though.. OP- what is your actual position on this?
     
  4. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    My position is that it's good to "hoard" or save money, especially in times like these.
     
  5. eagleseven
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    eagleseven Quod Erat Demonstrandum

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    It's good to save money during all times, unless you enjoy living hand to mouth.

    The fact that Americans have no net savings is a major cause of this recession.
     
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  6. thrival
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    thrival Rookie

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    I watched Dr. Oz last night and his piece on hoarding. I find it interesting that this set of habits is characterized as a compulsive "disorder." I always considered it thriftiness, recycling, and appreciation for things others have little or no value ("one man's junk is another man's treasure") or why/where else would such pithy sayings find their origins?

    That some find this set of habits in others annoying, isn't surprising, and yet I find these same people incredibly short-sighted and the same who come to me for those things they're lacking and I managed to squirrel away.

    It also has the economic value of not having to buy new all the time, much as the merchants of commerce may despise, as it threatens their system of through-put or the economic values of buy-&-discard foisted upon us. The fact is, hoarding can be smart. Some of us are old enough to remember when the economy operated differently, when items were made well, with tens of thousands of repair shops across the land, to keep them working and not in land-fills. It's not that we don't understand modernity and its values, we simply reject them (or pick and choose.)

    People like Oprah hoard money, but because her surroundings are otherwise clean, no "disorder" is recognized. How perjorative and prejudicial is that!

    Some of us have made our value-systems consciously. We find people annoying and things more interesting. Such people find occupations as inventors, artists and engineers. There's comfort in matter, and the things that can be done with it, over conditions of stark want & deprivation. Just because a thing may appear to have no use to one person now doesn't mean it won't have use to another person later. This is called being provident, or "putting by."

    A messy dwelling or pick-up truck bursting with junk is often the perfect way to keep otherwise imposing, dictatorial, controllling, mean-spirited and short-sighted people at bay, or at least not importuning upon one's time & attention for favors. Call it the Ugh factor.

    It's not that we can't decide what's junk (although the energy to sort through it all may be over-whelming at times) but little sense of immediacy because it isn't a problem for us. And that's a condition known as freedom.

    I believe people who feel the need to force others change according to some notion of social uniformity, and lacking appreciation of human diversity, creativity or who demand explanations WHY a person choose to own this or that, are suffering from Obsessive Interventionist Disorder, and hoarders aren't the least bit interested in their feelings, opinions or research.
     
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  7. Toro
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    Toro Diamond Member

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    My position is that its great to buy things from people who hoard money, because everybody hoarding money has caused prices to collapse, creating great bargains.
     
  8. editec
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    editec Mr. Forgot-it-All

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    What a load of Austian school Randian propaganda, Kevin,.

    Tell me, Kevi.. you don't REALLY believe this, do you?

    WIn the Keysenian universe personal savings isn't evil.

    What IS evil is allowing bankers to take people's lifes savings and gamble them in dubious exoxtic investments that were so complex that even the CEOs of the banks didn't understand them!

    Something the Austrian school was perfectly okay with, I might add.

    Your fucking Randians anti-regulation banker idiots actually caused this depression, sport.

    Time for YOU to do some reading about what really happened, I think.

    Your ideological anger at government and regulation really makes sense if you IGNORE the reality of what just happened, ya know.

    Try reading

    IN FED WE TRUST

    This book will give you an event by event rundown of how things started falling apart ad WHY the RANDIAN in charge of the FED allowed it to happen.​
     
  9. Skull Pilot
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    Skull Pilot Platinum Member

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    Keynes held the position that one can save too much.

    Personally, i think one can never save enough.

    In short savings is the problem according to Keynes.
     
  10. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    Talk about propaganda. :rolleyes:

    For starters, not all Austrians or libertarians are anything close to Randians. I for one am not a fan or follower of Ayn Rand. Secondly, by "Randian in charge of the Fed" I'm assuming you meant Alan Greenspan considering his past affiliation with Ayn Rand and objectivism. I assume you're trying to say his "free market policies" were to blame for this recession, but this is a myth that has been repeatedly shown to be incorrect. Alan Greenspan denounced his prior beliefs at his confirmation hearings to become Fed chairman, and none of his policies while Fed chairman could be considered "free market." His keeping interest rates at 1% during the dot-com bust, rather than allowing the market to correct itself as any true free market economist would do, is what set us up for the housing bust. Now Ben Bernanke is keeping interest rates at 0%. Is he a Randian too, or a free market economist? Get real.

    I suggest you read End the Fed by Ron Paul or Meltdown by Tom Woods.
     
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