Consumption Quote by Stephen S. Roach
“To the extent that hiring in high-wage, developed economies continues to lag, the sustainability of any impetus to private consumption can be drawn into serious question.”
About This Quote
Source Speech: Economic Outlook, 2023, Bloomberg Global Forum
If high-wage economies fail to create jobs, consumer demand will weaken, threatening economic growth.
In simple terms: Job shortages hurt consumer spending.
Boost job creation to sustain demand.
Themes
Mood
Type
When to use this quote
- policy planning
- business strategy
- personal finance
- government budgeting
Key Concepts
Questions to Reflect On
- How can policy balance job creation with wage growth?
- What alternative drivers can sustain consumption?
Even with job growth, other factors like debt can limit consumption.