RS The Interview Project

The people I interviewed were myself(21), my mom Rosemarie Graziano(56) and my Grandmother Julia Graziano(86)

The government should regulate the economy:

Me: Agree

RG: Agree

JG: Strongly Disagree

Politics has a major influence on the economy:

Me: Agree

RG: Agree

JG: Agree

Everyone should take an economics class in high school:

Me: Agree

RG: Agree

JG: Agree

Banks should be government owned:

Me: Neutral

RG: Disagree

JG: Disagree

The government bailouts worked:

Me: Agree

RG: Neutral

JG: Neutral

Local government should have more control:

Me: Neutral

RG: Disagree

JG: Agree

We should invade Iran:

Me: Strongly Disagree

RG: Strongly Disagree

JG: Disagree

In 6 months the economy will be better than today:

Me: Agree

RG: Agree

JG: Neutral

I am well informed about economic news:

Me: Agree

RG: Neutral

JG: Neutral

The recession personally affected me:

Me: Agree

RG: Agree

JG: Disagree

In your lifetime, what city that you are familiar with has changed the most (both positive and negative)?

Me: My home town and the surrounding towns have changed in my lifetime. I live in Scotch Plains New Jersey and especially since the most recent economic trouble, it has changed because a lot of places and business that I grew up with were forced to change or move over time or because of the recession.

RG: Astoria NY has changed a lot because there are a lot more young people living there then there were in the past because those people work in the city and have found that it is a good place to commute from. Also, the stores and neighborhood atmosphere has become more trendy and modern.

JG: NY City, I live there and it has changed for the positive because I think it has gotten more diverse. I think it is an easier place to live than in the past. Overall it has changed for the positive.

In your opinion, what president had the biggest positive impact on the economy? Why?

Me: I don’t really know a lot about the presidents that have been there since I was alive because for most of the time I never understood the economy but I think it was FDR because the economy has never been worse when it was during the Great Depression and FDR stopped the bleeding and got it turned around and on the upswing again.

RG: I think it would be Clinton because it seemed like there were more people working and the government and industries seemed to be in a better place when he was President.

JG: I think Reagan or Clinton, there were more jobs available and when you have a job the economy seems better. It was much easier for me to get a job then it is for people to find jobs today.

What is your first memory of a major economic event impacting your life?

Me: The only major economic event I have a lot of memories of is the recession of 2008 because I was old enough to experience it and understand what was happening.

RG: The most recent recession has affected our family because it has caused us to keep a closer eye on our savings and we have also lost some money because of the poor market conditions and the bad environment

JG: The Great Depression, I was around 10 years old and I can remember people standing on corners begging for money. A lot of what is shown in movies is pretty real and accurate and people were desperate.

How do you get economic news? How has this changed over your life?

Me: I get economic news mostly through the internet and TV. It has changed throughout my life because our society is much more connected and media savvy these days so news spreads much quicker.

RG: I get the news pretty much the same way I always have, which is from the radio and from the news on TV.

JG: I get it mostly from TV and from the newspaper. It has changed because there wasn’t always the TV so the most consistent source has been the newspaper.

What is your definition of economics (when you hear the word economy or economics what do you think about)?

Me: When I think about economics or the economy I think about the everyday interaction between people in a society and their dealings with money and transactions throughout society.

RG: I think of jobs and the way people spend money and interact with each other. I think a lot about buying and selling and jobs.

JG: I think economics is the management of money, how it is used and spent and what you get from it.

How do you deal will rising prices e.g. substitute cheaper brand, stop buying? Any examples?

Me: Rising prices have definitely caused me to pay more attention to what I am buying and whether or not I need some of the things I am buying. It has also caused me to pay more attention to prices and how to search for good deals when shopping. When shopping for food I search for deals like 2 for 1 or things like that instead of always going for a name brand which is usually more expensive. I definitely pay more attention to these things now that prices have risen recently.

RG: Lately, we are spending less time in local markets and going to wholesale clubs and buying in bulk because there is better value and even though you spend more, you get more for it. Also there are more options and cheaper brands at places like that but the quality is not a problem and it lasts longer so you have to shop less often.

JG: I think it forces me to focus more on buying what you need and not buying as many extravagant things. Also you look for more opportunities to get more value for your money.

What product or service has most changed over your lifetime?

Me: Buying gas has changed a lot and also the movies have changed a lot as well. The price of gas has changed a lot and that industry is always under the microscope these days. The movies have gotten much more expensive in my lifetime and they are also changing the way they do things too because some movie theatres are trying to offer more amenities and food options now, even if they have to charge more for admission.

RG: Gas because it used to be so so cheap and now the prices are out of control, the cost of owning a car in general has increased a lot.

JG: The cost of housing has changed a lot because my apartment used to be $68 a month and the cost of housing is so different now than it was. The value of money has changed a lot.

How do you handle saving and how has this changed?

Me: I keep a close eye on my bank account and smart phone apps and more media options have helped me to do that these days. Whenever I get a paycheck or money from a special occasion I deposit most of it into my account and only carry a little for spending, that way I save most of it and don’t blow it on unnecessary stuff.

RG: Saving has become a lot more complicated because there are so many different ways to save money and back when I was younger there weren’t as many options to put money into

JG: The way we deal with money has changed a lot; there are a lot of different things such as 401Ks, CDs and other options like that. Also, there are more people than ever playing the stock market and when I was younger that seemed like something only the wealthiest people did.

What was the price of gas when you got your first car?

Me: The price of gas when I started driving was around $2 a gallon or a little over, I don’t remember exactly but it was around 3 or 4 years ago so it was before the prices got really out of hand like they are these days.

RG: The cost of a gallon of gas when I first started traveling a lot was $1.25, I got my license in 1973 but I didn’t drive consistently until 1980.

JG: I don’t remember exact prices and I never bought my own gas because I never owned my own car, but I remember the prices being well below $1

What was your wage at your first job?

Me: My wage at my first job was around $7.50 an hour, so right around minimum wage.

RG: At my first full time job at a bank I was making about $98 every 2 weeks. I was working 40 hours a week. 

JG: My wage at my first job was $17 per week; I worked at an insurance company. It was a lot of money to me in that day and overall dealing with money was a completely different world back then.