This paper examines various reasons why American consumers are compiling enormous personal debt.
Written in 2006; 1,060 words; 5 sources; MLA; $ 37.95
Paper Summary:
This paper explains that this nation, which built itself based on the Protestant ethic of hard work and simple living, is now floundering in individual and fiscal financial woe as America lives beyond its means. The author points out that the advent of easy credit and hyper-consumerism has redefined American values; people do not want to wait to own luxury possessions, such as the expensive cars, which now symbolize American values. The paper relates that another cause of America's financial woes is that, for a great segment of the population, economic realities force many people to live beyond their means, simply to meet obligations like mortgages and healthcare costs.
Table of Contents
The Growth of Consumerism
Economic Realities
Conclusion
From the Paper:
"As with many diseases, affluenza is contagious. Cultural conditioning through media and advertising promote an image of "the good life" that is associated with possessions. Instead of hard work and frugality, possessions such as fancy cars, McMansions and designer clothes were now the symbols of success. It was therefore not enough to have wealth; one had to flaunt it as well. Meanwhile, those who did not have wealth could pretend that they did, by using their credit cards and falling deeper into debt."
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