The Leisure Economy: How Changing Demographics, Economics, by Linda Nazareth

By Linda Nazareth

For the previous 3 many years, now we have been gradually developing an severe 'time-crunch economic system' that has affected jobs, portfolios, companies and lives. however the 'time-crunch economic system' is popping into 'the relaxation financial system' and it'll suggest wrenching alterations for our lives and associations. everybody from shoppers, traders, companies, and policy-makers might want to comprehend the adjustments afoot.

The rest Economy posits profound financial adjustments in North the United States because of either the retirement of the newborn boomers and the attitudes of ascendant generations X and Y. traits in demographics, economics and generational switch, this e-book seems to be at easy methods to remain sooner than the relaxation financial system and predicts who could be the winners and losers within the seismic shift ahead.

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Extra info for The Leisure Economy: How Changing Demographics, Economics, and Generational Attitudes Will Reshape Our Lives and Our Industries

Sample text

From the proliferation of middle-class households with flat screen televisions to the fact that the homes they put those TVs in are now frequently big enough to house a media room, there are plenty of examples showing that material wealth is high. Indeed, more than 70 percent of all Americans now own their own homes, and about half have a stake in the equity markets. Leisure, though, has proved to be the elusive luxury item, the one that has actually diminished as material wealth has increased. It’s as if we have all fallen down the rabbit hole that is North America in the 21st century.

7 And consumers did fine too. If the previous decade was notable for enabling North Americans to get new homes and new cars, the 1960s saw a rise in the services they consumed. Travel and tourism became accessible to more and more people, as did other leisure pursuits. These were the years when policymakers had to tussle with the promise and the threat of automation on the workplace. Blue-collar workers and their unions were justifiably frightened by what machines might do to their jobs. In response, in 1962 the Manpower Development Training Act was passed in the United States with the backing of the AFL-CIO, America’s largest federation of unions.

Leisure, though, has proved to be the elusive luxury item, the one that has actually diminished as material wealth has increased. It’s as if we have all fallen down the rabbit hole that is North America in the 21st century. If you make the right educational and career choices, you can make money, and with that money you can buy more and more things that you want. What you cannot buy, however hard you try, is leisure time. To understand exactly how this has happened, you have to look at how the economy has developed over time.

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