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Lunch » Tags » Wall Street Journal » Reviews » A Layoff in the Smith Family Ripples Through Town

A Layoff in the Smith Family Ripples Through Town

1 rating: 5.0

A Wall Street Journal article about how one layoff in a small TX town impacts the globe

A layoff in one Texas family launched a series of other actions that have rippled through the economy. http://online.wsj.com/article/SB123319134864127065.html

Tags: Recession, Wall Street Journal, Harolds, Spending Cuts, Layoffs

1 review about A Layoff in the Smith Family Ripples Through...

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Read this story for a human perspective on how a recession can snowball across the globe

Jan 29, 2009

by Merredith

Rating:

The Wall Street Journal is famous for its "keyhole approach" -- letting a small, personal perspective open the door to a broader story. In this remarkable, simple piece, writer Ben Casselman chronicles how one layoff has repercussions across an entire town -- and even across the globe.

This story is the economic equivalent of "when a butterfly flutters its wings in the jungle..." It's just enlightening and well-done; not overly dramatic: the Smiths (Smiths!) are a middle-class family who won't be homeless tomorrow. Yet their small choices on spending fall in step with those of others, and suddenly other businesses and jobs are on the line.

I hope this link doesn't expire soon. If it does, I'll see if I can find a workaround.

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