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By the early 1970s it had become the accepted term for the field and began to be used in these ways: [3] Consumerism is the concept that consumers should be informed decision makers in the marketplace. [3] In this sense consumerism is the study and practice of matching consumers with trustworthy information, such as product testing reports.
On this day in economic and business history... One of the greatest cultural events in American history began on May 1, 1893, when the World's Columbian Exposition opened to the public in Chicago.
Consumer culture describes a lifestyle hyper-focused on spending money to buy material or goods. It is often attributed to, but not limited to, the capitalist economy of the United States . During the 20th century, market goods came to dominate American life, and for the first time in history, consumerism had no practical limits.
The consumer movement began to gather a following, pushing for increased rights and legal protection against malicious business practices. By the end of the 1950s, legal product liability had been established in which an aggrieved party need only prove injury by use of a product, rather than bearing the burden of proof of corporate negligence.
Beginning in the 1960s–70s, scholars began to recognize "waves" of consumer activism, and much of the academic research on the consumer movement sorted it into "three waves of consumer activism". The first wave occurred at the start of the 20th century, the second wave in the 1920s and 1930s, and the third wave from the 1960s to the 1970s.
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U.S. consumer prices increased by the most in nearly 1-1/2 years in January, with Americans facing higher costs for housing and food, reinforcing the Federal Reserve's message that it was in no ...
The Americans attempted resistance through boycotts of British manufactured items, but the British responded with a rejection of American rights and the Intolerable Acts of 1774. [24] In turn, the Americans launched the American Revolution, resulting in an all-out war against the British and independence for the new United States of America ...