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1950’s Economic Theory

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This is from an article written in 1955 by Victor Lebow, Economic Theorist and Marketing Consultant describing the consumer and our economy. I will allow this segment to speak for itself. “Our enormously productive economy demands that we make consumption our way of life, that we convert the buying and use of goods into rituals, that we seek our spiritual satisfactions, our ego satisfactions, in consumption. The measure of social status, of social acceptance, of prestige, is now to be found in our consumptive patterns. The very meaning and significance …