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LookingGlass - Report

LookingGlass by Glasshouse Forum No. 1/2009

"Towards a New Austerity?"

US household consumption has been the engine of the world economy. This structure has to large extent been financed by debt and is no longer sustainable. How will the younger generation, used to high levels of consumption, react to the crisis? Will we see a renaissance for thrift, and a shift towards a culture less focused on material wealth?

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