SOC317H5 Lecture Notes - Lecture 12: Gross Domestic Product, Segue, Fast Fashion
Document Summary
In 1969 fraction of gross domestic product devoted to personal consumption stood at. 61. 5%. the major alternatives are investment and government spending and exports: by 2007 topped to 70%. Expenditures per person hit peak that same year at 144: since 1990, inflation adjusted per person expenditure have risen 300% for furniture and. In west, apparel has been expensive to produce and has been high priced and valuable commodity: once fashion garments had long lives. Production system drives businesses to use natural resources at hyperspeed and the consumer system makes the resulting products redundant almost as fast: accumulation of clothing has been made possible by plummeting prices. Buying is more indiscriminate and garments are worn fewer times: there"s been shift of what industry calls basics which by definition has fast moving style, ppl now buy more fashion items and basics themselves are more fashionable.
