- Words: 897
- Length: 3 Pages
- Topic: Economics
- Paper #: 40355663
Some may argue that consumerism isn't fueling the rampant consumer debt; the real problem is that wages have been stagnant and consumers just can't keep up with the cost of living. But, following Keynes' line of reasoning, consumption should at least be decreasing as incomes are falling, but, instead, consumption is increasing and now accounts for two thirds of our GDP.
Some are beginning to question, just like Galbraith, if