Brooks on “Financial Decadence”

New York Times opinion writer David Brooks offers much food for thought in his recent call for a renewal of financial virtue to curb alarming trends in the way many Americans are approaching their money (or lack thereof). Here’s a sample:

The social norms and institutions that encouraged frugality and spending what you earn have been undermined. The institutions that encourage debt and living for the moment have been strengthened. The country’s moral guardians are forever looking for decadence out of Hollywood and reality TV. But the most rampant decadence today is financial decadence, the trampling of decent norms about how to use and harness money.

Read the whole article here.

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