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Title: Expenditure Cascades in Times of Finance

Citation Type: Miscellaneous

Publication Year: 2014

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Abstract: The severity of the recent global financial and economic crisis has led to sustained interest in its origins. While commentators continue to debate the core causes, many observers have pointed to the role of changes in Americans’ spending, most visibly the bubble in housing spending (Case, Coman and Hepburn 2008; Baily and Elliott 2009), but exemplified also by spending for instant gratification and a lack of restraint in spending on luxury goods. Indeed, some observers suggest a crisis in American consumption – that Americans consume too much, at too great a cost – in brief, that Americans are “overspent” or have “luxury fever” (Schor 1998; Frank 1999). While the conception of the United States as a consumer society is far from new (Ewen 1976; Featherstone 1991; Calder 1999), recent critiques argue that emulative and competitive consumption has intensified over recent decades, in large part due to increasing income . . .

Url: http://recursos.march.es/web/ceacs/actividades/miembros/kornrich.pdf

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Authors: Kornrich, Sabino

Publisher: Emory University

Data Collections: IPUMS USA

Topics: Labor Force and Occupational Structure, Other

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