Thursday, May 21, 2020

The Reason Behind the Increase of Consumer Debt and...

The Reason Behind the Increase of Consumer Debt and Materialism Everywhere you go today, you see white ear buds sticking on people’s ears. There are millions of people (especially teenagers) that own iPods in America right now. I remember the first time I saw an iPod on TV from 50 Cents’ music video. I thought the gadget was really cool because of how much music it could hold in such a small size. Straight away, one would think that only upper middle class people would be able to own this. Now, everything has changed. Everyone has to have an iPod! My sister used to tell me how, during school, everywhere she would turn, every kid would have an â€Å"iPod† to listen to. A couple of weeks later, she got†¦show more content†¦Therefore, people receive â€Å"extra† money allowing them to spend and afford pleasing goods and services that they might otherwise not buy. With the flourishing economy and extra money available from people, they are more likely to get educated and at least complete high school. Studying employees at a large telecommunications company in Southeast, Schor found out that education is additionally a â€Å"very surprising variable† in consumption and shopping. Normally, we would think that a more educated person would be more likely to be an educated consumer. However, she found the opposite. The more well-informed one is, the higher the level of spending will be. According to Schor’s results, better educated people were more tied to the culture of upscale consuming. Education raises aspirations. For an example, a straight-A high school graduate student will most likely continue education on to an expensive high-class university. Typically, these students would reflect how they have worked so hard to be where they are that they deserve to be in a high class well-known school. And so, their ambitions escalate . Because of the economic prosperity, people are also given the chance to invent advanced technologies which have changed a great deal of our way of living through the years. Most of us today would think it’s impossible to live without the modern conveniencesShow MoreRelatedAffluenza in American Society1739 Words   |  7 Pageswith the disease it is difficult to be overthrown. Affluenza is characterized as an unhealthful connection with money, blown up hopes and tiresome efforts to keep up with the Joneses. Affluenza creates anxiety, bankruptcy, and becomes the reason of several problems in associations. Even though, there are some people who have unlike definitions for Affluenza. Many people find Affluenza to be a rich man s mental sickness and have responded by suggesting that the world has bigger problemsRead MoreThe Period of the Great Depression and Political Issues in America1767 Words   |  7 Pagesstart an argument of self-defense that could lead to war. 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