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US economy is reliant on consumer spending: Can it survive Covid-19?

Today's consumer society emerged after the end of World War I, fueled by the emergence of the modern advertising industry and facilitated by widespread adoption of consumer credit

The U.S. spends the most money on advertising in the world. Marketing and advertising spending in 2020 is projected to reach nearly $390 billion. Dan Mewing/Moment via Getty Images
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The US spends the most money on advertising in the world. Marketing and advertising spending in 2020 is projected to reach nearly $390 billion. Dan Mewing/Moment via Getty Images

Halina Szejnwald Brown | The Conversation
The Covid-19 pandemic has radically affected the American economy, reducing spending by American households on materials goods, air travel, leisure activities as well as the use of automobiles. As a result, greenhouse gas emissions have temporarily fallen dramatically.
While this may be a positive for the environment, the social price is high: Since the U.S. economy depends heavily on consumer spending, the country is experiencing the highest unemployment rate since the Great Depression, the threat of homelessness for tens

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