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A minor depression developed during 1921-22; during and after the depression, the press of the day, the U.S. Chamber of Commerce, and the National Association of Manufacturers, among others, expressed great concern over a so-called "buyers' strike." Newspapers, popular magazines, and business management journals of the period show that business leaders and economists were greatly concerned over workers' lack of interest in consuming more material goods. Newspapers spoke of "need saturation." The National Association of Manufacturers decried the fact that Americans were producing more than they were consuming, and that consumers were buying "only the necessities of life" rather than "comforts and other purchases" (ibid.).
Voices of alarm sounded in every direction: Industrialists were concerned about decreased profits, government leaders were concerned about slumping economic growth, and moralists were concerned too, about what they viewed as a fading work ethic. Business leaders and bankers in New York organized a "Prosperity Bureau" which ran an ad campaign based on the slogans "Buy Now," "Put the Money Back to Work," and "Your Purchases Keep America Employed." All over the country, local chambers of commerce joined this movement (ibid.).
Meanwhile, laborers pursued their dream of a five-day work week. Other, contrary voices argued that allowing workers so much leisure time would breed degeneration, vice, corruption, "mischief," and radicalism. Some business leaders, however, including Henry Ford, were optimistic that allowing workers another day off could be a boon in terms of stimulating consumption of goods for use during leisure (Hunnicutt 1988). "Businessmen became increasingly convinced that Americans could be persuaded to buy things produced by industry that they had never needed before" (ibid., p.42). There was some debate among economists, but most were in agreement that if all classes of citizens could be motivated to aspire to a higher standard of living, and if that standard were progressive (always increasing), domestic markets and the national economy would thrive. As a people we have become steadily less concerned about the primary needs – food, clothing and shelter… the slogan "full dinner pail," is obsolete… and we now demand a broad list of goods and services which come under the category of "optional purchases." …the manner of this spending may be determined by the tastes of the consumer or the nature of the appeals made to him by the industries competing for his patronage…. The conclusion is that economically we have a boundless field before us; that there are new wants which will make way endlessly for newer wants, as fast as they are satisfied…. By advertising and other promotional devices, by scientific fact finding, by carefully predeveloped consumption, a measureable pull on production has been created which releases capital… and furthers the organic balance of economic forces…. it would seem that we can go on with increasing activity….
~ Committee on Recent Economic Changes(1929, p.xv, as cited by Hunnicutt 1988)
Government attitudes of the time were captured by President Herbert Hoover's Committee on Recent Economic Changes. At the end of the decade, the committee published a report documenting the widespread interest among business and industry leaders, bankers, and economists in stimulating the public to consume. This report agreed with the premise that increased leisure, the stimulation of new needs, and increased consumption of goods and services to support leisure activities could stimulate production and create broader markets for industry. In fact, the report observed that this trend had already been documented and lauded the idea of strengthening and expanding the trend (ibid.).
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