The Stage of Consumerism
The period between World War I and World War II is marked by the unsuccessful efforts to reestablish the pre-World War I mode of capital accumulation. At the same time, particularly in the United States, the basic elements of the stage of consumerism are beginning to emerge as early as the 1920s, and are given a further boost by the Great Depression. Fortunately it is not necessary to draw precise time boundaries at the level of stage theory, since it would be difficult to say precisely when imperialism ended and consumerism began. What is much clearer, is that the classical years of the stage of imperialism are the twenty years prior to World War I, and the classical years of the stage of consumerism are roughly from 1950–1970.1 No doubt this latter claim is not all that clear at this point, but will become so in the course of the chapter.
KeywordsVortex Depression Europe Income Shrinkage
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