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Consumer culture has developed over the years for many different reasons such as the demise of the social class and embourgeoisement which are both key factors in capitalism and has therefore led to the argument that consumer society merely reflects the rise of capitalism which I plan to discuss within this assignment. The origins of consumer culture have been discussed by Grant McCracken (1998) who argues that there is minimal agreement in regards to the origins of consumer society. McCracken took on the viewpoint that it would not be beneficial to look at a specific point in time in which consumer culture arose but to primarily focus on patterns of changes within culture and how these pattern of changes led to the reformation of society.…show more content…
However the works of Neil Mckendrick (1982) led him to the viewpoint that consumer culture began in eighteenth century England with the commercialization of fashion which led to a mass change in people’s taste.
So according to McKendrick the sudden change in people’s taste in relation to fashion during the eighteenth century meant that terminology such as ‘style’ developed and represented the shift in demand for items of clothing that was produced on a larger scale by new technology within the textile industry and marketing to a mass audience through improvements in printing technology which allowed and supported mass advertising to all members in society.
The third was the development of the department store. According to McCracken the Department store changed the nature of purchasing activity because department stores essentially institutionalized consumption and changed the way in how consumers were influenced and to how much influence they were subjected to in relation to purchasing goods and services. From looking at the work of McCracken and McKendrick it is clear that the development of the consumer society came from an increase in the supply and demand mindset which is a key factor or element within a consumer society.
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The best answer to the question: How much if this did Kyler contribute and how much of this is interest, would be: 93.311.43 would be the total amount accrued by Kyler at the end of the 25 years of saving if the annual compound rate is maintained at 6.2%, and the rest would be the net savings done by Kyler if he maintains the rate of savings at 225 per month for all of the 25 years.
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The good thing about savings on an account with compound interest rate is that at the end of the saving period, the total amount gained will be much larger than without it. This compound interest rate is simply the extra money that a person may get for literally investing his/her money in this case on a bank account that offers that rate of interest every year. Give or take a bit from taxes, at the end of the day, Kyler got a lot more money from just compound annual interest, than from his own hand.
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