A letter to the NY Times under the headline "Upside of the Downturn" shows that the difficult economic situation we are in is causing a new focus on saving and a general examination of the culture of consumerism.
Link to the actual letter which is copied below.
Having recently read “Goodbye Seduction, Hello Coupons” (Advertising column, Nov. 10), as well as considered the far-reaching social and cultural implications this economic crisis may have, I am beginning to become optimistic despite the struggles in front of us.
For the first time that I can remember, people will be forced to put their lives, their spending and their desires in perspective. The age of shallow commercialism, for the foreseeable future, is over. Our economy will have to restore its balance and focus on our necessities, not our desires.
Many articles in various news outlets have been discussing the far-reaching changes in consumer spending. My hope is that these changes will penetrate our psyches and forever change our perspective so that we may move forward and rebuild our economy and society based on real intrinsic value, not indulgent consumerism.
Joshua Shapiro
New York, Nov. 12, 2008
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