The principle of comparative advantage suggests th
W8DQ_SOC210
Q The postwar era saw a period of increased affluence, consumerism, and leisure. What factors led to this increase and which groups seemed to benefit from this affluence? Which groups did not seem to benefit? Why?
After the end of the World Wars, the United States saw the rise of the affluent societies along with poverty stricken population. The extreme unequal distribution of wealth led to reliance of consumerism and lesser willingness to save money. In case of any financial crisis, affluent families can get bankrupt. Due to technological innovations, consumerism increased as people became more reliant on technologies for doing various labors.