Posts Tagged ‘rise in sales’
But Their Profits are Up!
During the Great Depression, the only two things people could seem to afford were bootleg liquor and Busby Berkley musicals, as both industries saw a rise in sales while the economy plummeted. But did the profits have anything to do with the depression?
The media have been making causal jumps between the economic downturn and the rise in luxury commodities, essentially asserting that these industries are "recession-proof": Amazon sales are up. Consignment sales are up. Cosmetic sales are up. English coffee sales are up. McDonald's sales are up.
Seems to make sense: during rough economic periods people seek solace in indulgent spending, a type of economic escapism.
But linking rising sales in luxury goods to economic hardship is complete bullshit.
