Middle East Focus: The Economic Cost of Looking ‘Cool’…………………
The Economic Cost of Looking ‘Cool’…………………
“A report released Monday by the U.S. Department of Commerce revealed that Americans spend an astonishing $14 trillion a year on countless, usually failed attempts to look cool. Looking cool, which the report defines as "the outward projection of an appealing and often enviable image of oneself that others perceive as requiring little to no effort," appears to be a nationwide obsession."To put this into perspective, the amount Americans spend on cool looking haircuts is nearly 15 times greater than the total amount spent on cancer research," said Eric Gerhardt, noted economist and lead author of the report. "Whether it's name-brand sneakers, an all-in-one espresso maker, or a pair of hip and stylish Ray-Ban sunglasses, we devote tremendous resources each year toward our conspicuous attempts at stature enhancement."…….. Despite the many trillions of dollars spent each year, the study found that Americans, as a whole, generally fail miserably at looking cool. "Someone like contractor Jerry Ditmas of Akron, OH, for example, who spends as much as $3,000 per annum on custom motorcycle accessories, succeeds only in looking like a bigger doofus with each wasted dollar," said Gerhardt, adding that the advertising industry, Japanese youths, and dads on vacation account for nearly a quarter of the $14 trillion. "This is in contrast to, say, [musician] Lou Reed, who spent just $11 on looking cool in 2009 and remains as cool as they come."………….. According to the report, a significant percentage of the $14 trillion can be traced back to the highest levels of government, with tax cuts, most defense spending, and a number of major public works such as Mount Rushmore amounting to little more than lawmakers' attempts to appear cool to constituents. "The Cold War was essentially one huge, pathetic trying-to-look-cool race," Gerhardt said………..” Cheers
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