SOUNDING BOARD is an outlet for opinions on good and crazy things going on at home (wherever I may be). All are welcome. You are not expected to bring anything except your common sense & sense of humor.
'If the automobile had followed the same development cycle as the computer, a Rolls-Royce would today cost $100, get one million miles to the gallon, and explode once a year, killing everyone inside.'
-Robert X. Cringely (from geek wisdom)
SOUNDING BOARD
Monday, April 05, 2004
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On holiday economics
It will be a special non-working holiday on Wednesday, 7 April 2004, in observance of lent and in addition to the annual holidays during Maundy Thursday and Good Friday.
Call me 'KJ' but I really think we have a lot of non-working holidays. The government justifies this by invoking 'holiday economics', where supposedly, people would be spending during these times and this consumer spending will help fuel the economy. I hope they did their homework on this one because beginning to doubt whether or not people are indeed spending during the additional non-working holidays given the state of the country's economy.
My spending, for one, is not affected at all whether today is a non-working holiday or not. In fact, I spend more during work-days. However, I've always considered myself an 'outlier' in more ways than one.
Maybe some students should work on this topic for their thesis. How much change in consumer spending can be attributed to the increased holidays? Of course, we're assuming that consumer spending indeed has a significant effect on the economy. Then maybe balance it with the corrollary question: do the benefits of holiday economics more than offset the loss in productivity?
If anyone has an idea of a similar study or analysis, please send me a note.
posted by Allan at 12:09 PM (GMT+8)
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