November 21, 2009

Released: August 20, 2009

Life Without Frivolities

Simpler living may outlast the recession.

Large numbers of U.S. adults have cut back on driving, eating at restaurants, going to the movies and traveling. It's no surprise that this type of discretionary spending has taken a hit, but these trends are not just the result of a 20-month recession.

To be sure, the recession has added to the count of people who are cutting back. But many Americans had already decided to live with less before the bottom fell out of the economy. That has been an ongoing trend, as more Americans move away from material frivolities and take pleasure in a simpler lifestyle. Now that a recession is forcing many others to also live within limits, how many will discover that they never really needed all those material things to be happy in the first place? That thought should worry consumer-oriented businesses, and encourage those who believe the nation and world are on an unsustainable course.

Please click here to read the full article.

(8/20/2009)

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