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Essay / Research Paper Abstract
This 3 page report discusses a December 19, 2003 article in The National Post, in which Canadian journalist, political pundit, and poet, Patricia Robertson presents what she calls "A cautionary tale of the real cost of cards." Highlights of the article regarding the current high rate of consumer credit card debt and what causes it are presented. Bibliography lists only the primary source.
Page Count:
3 pages (~225 words per page)
File: D0_BWcnsume.rtf
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Unformatted sample text from the term paper:
she calls "A cautionary tale of the real cost of cards." In it, she explains the ways in which modern consumers use and abuse their credit and the remarkable amount
of personal debt they are amassing. This report addresses some of the most important points that Robertson makes and presents a clear example of one of the problems involved in
consumer decision making in the 21st century. Highlights of the Article Robertson explains that massive consumer debt has been the result of: "attractive interest rates, too much available credit, and
a consumer mindset that dictates we spend our way out of economic slow-downs" (Internet source). All of those factors combined with the modern Western mentality of instant gratification have resulted
in a set of circumstances in which the average consumer is essentially digging a hole that he or she will be able to escape. In terms of the larger or
"macro" economic aspects of such a situation, Robertson adds that it: "... translates into an economy that is vulnerable to either a drop in employment, or a spike in
interest rates" (Internet source). What the student analyzing Robertsons report will want to consider in light of the facts she outlines is how so many consumers have come to think
of shopping and accumulating things as something of a hobby, even a passion. People identify with what they buy and often are identified by their purchases as well. The person
in the suburbs who drives a Land Rover is viewed differently than his or her neighbor who is driving the ubiquitous mini-van. Consumption is about image, appeal, position, and far
more emotional concerns than one would ever think could be involved with inanimate and, all too often, useless things. Of far greater interest to the consumer are the costs, the
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