tag:blogger.com,1999:blog-2540124574202762417.post9118402382971843538..comments2024-03-17T16:20:18.072-06:00Comments on Lex Anteinternet: The end of consumerism?Pat, Marcus & Alexishttp://www.blogger.com/profile/13097254988446524947noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2540124574202762417.post-36556217127111439972015-02-21T06:47:58.677-07:002015-02-21T06:47:58.677-07:00Froma, fwiw, has returned to this theme in an arti...Froma, fwiw, has returned to this theme in an article she just wrote which is based on the recent observation that even while the economy has improved, consumer spending is not rising and the savings rate is actually slightly increasing.Pat, Marcus & Alexishttps://www.blogger.com/profile/13097254988446524947noreply@blogger.comtag:blogger.com,1999:blog-2540124574202762417.post-1205036752808708222014-12-11T20:28:32.583-07:002014-12-11T20:28:32.583-07:00I wouldn't agree that capitalism must equate w...I wouldn't agree that capitalism must equate with consumer debt. Prior to the late 1970s it really didn't, except as to certain big ticket durable items, such as houses. People whose means were more modest often had debt on items such as appliances, but that was about it. Even as late as the 1970s I remember people not buying new cars unless they could simply pay for them.<br /><br />Credit cards, which most Americans didn't really have until the late 1980s, really acclimated people to carrying debt. But that need not have been the case. Credit cards could have been regulated to prevent their general use, or interest rates greatly restricted, which in the high interest 1970s would have really kept them from getting much of a start. Putting that horse back in the barn, however, would be very difficult now.<br /><br />I would agree that heated materialism, however, does depend on consumer debt, as consumption at the level we've seen in the last couple of decades depends on a fairly significant percentage of the population purchasing on credit.Pat, Marcus & Alexishttps://www.blogger.com/profile/13097254988446524947noreply@blogger.comtag:blogger.com,1999:blog-2540124574202762417.post-58879081119898252452014-12-11T17:31:32.907-07:002014-12-11T17:31:32.907-07:00"...capitalism equates with consumerism...&qu..."...capitalism equates with consumerism..."<br /><br />It makes more sense to me that capitalism equates with consumer debt which then makes consumerism possible. Without going into debt, it's harder to be materialistic. <br /><br />Americans might just be broke and/or unable to take on more debt instead of being post-materialistic. I know that I hate being in debt and that way of thinking has kept me from buying a bunch of junk that I don't really need. Richhttps://www.blogger.com/profile/11412944120622315804noreply@blogger.com