The Chapter 18 Project | Thomas L. Friedman - 0 views
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As I put it in the book: “In some ways, the subprime mortgage mess and housing crisis are metaphors for what has come over America in recent years: A certain connection between hard work, achievement, and accountability has been broken. We’ve become a subprime nation that thinks it can just borrow its way to prosperity..."
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L Butler on 23 Jun 09You see evidence of this all the times - just watch TV commercials. Companies always offer interest free, until ... or no down payments ... this is encouraging to "buy" things they have not worked hard for. For something like a house, borrowing money is reasonable, as long as your taste in homes matches what you can pay off. It is not economically responsible to buy thousands of dollars of new furniture just because you don't have to pay until 2012, knowing that you will not be able to pay it off in time.
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The author of "Flat, hot, and crowded" continues his discussion with the readers in what is titled 'Chapter 18.' In true web 2.0 fashion he encourages the readers to become the writers with frequent posts requesting response. He plans on using the best posts to create the real Chapter 18 for the second edition of his book.
