Restoring The American Way Of Life

1819 WordsSep 23, 20148 Pages
Kimberly Phan Professor Kirby English 1B, section 39 23 September 2014 Restoring what was Lost Much of what many of us consider the American way of life is embedded of a broad shared economic growth, between 1900s and 1979. During that time period, every American from each generation improved than the one from before their time. Even those who had to endure through the Great Depression made up what was lost. By then, America went into an era that economists call the Great Compression, where workers captured a share of the economy’s growth. Nowadays, there seems to be a lot of divergence about what really happened. In hopes of simply going back to where we once were, I feel that people are not embracing the future, but running away to…show more content…
Schor describes what she calls “competitive consumption” and that the real reason for this economic crisis is due to the desire for things we do not need. When it comes to the topic of financial crisis in an American household, most of us will readily agree that national debt has affected millions of people. Where this agreement usually ends, however, is on the question of where the money was spent that cause this economic difficulty. I find Schor’s belief of heavily indebted consumers to splurge on luxury items inaccurate. On the other hand, Warren’s theory of cost living in different time periods is extremely useful because it sheds insight on the problems we are facing today, and the financial stability for numerous middle-class Americans is all too fragile. Schor, a professor at Boston College, argues that we are living in “the cycle of work and spent” which motivates the people to “spend longer hours of work” in order to buy materialistic items based on their appearance to the world. She states the “competitive consumption has shifted out to the vast majority of the population” and “the media has a very pronounced bias towards showing upscaled or affluent consumption” (Schor). Schor highlights the kinds of “socially visible items become increasingly important as a part of a competitive consumer system.” And because of that, “the growth of the aspiration gap has led American
Open Document