Archive | December, 2011

Creative Solution to Economic Distress

1 Dec

Women’s Wear Daily did an article on creative ways of breaking through this tough economic recession. They asked the Creative Directors of several different design houses what their personal solutions would be. My favorite response was from Karl Lagerfeld of Chanel. He said, “I think they should make a tax so that when you earn a certain amount of money, you have to spend a certain amount on shopping. To buy whatever….And that way, we create tons of jobs. I think it’s a good idea. What I hate is people with a lot of money who don’t spend it. Money is there to be spent, because it creates jobs….Believe me, it’s not a bad idea. You buy whatever it is; food, furniture, design, clothes, cars…whatever creates jobs.” Of course this would never happen, but the idea is novel. People hate to be taxed, but what if a tax was to increase consumer spending and was you putting money into things that you could keep instead of just giving it to the government? I wouldn’t have a problem with it (if I was earning this “certain amount of money”). I’m definitely a proponent of spending money and shopping. It would certainly get more money circulating in the economy and help with jobs. Leave it to Mr. Lagerfeld to advocate spending, especially when those people earning a high income are more likely to be his customers.

Karl Lagerfeld

K.F