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Article: Whatever happened to: conspicuous consumption?

Article from:
The Independent (London, England)
Article date:
December 14, 1996
Author:
Copyright

The year: 1981 - Geoffrey Howe deflates (what a horrible prospect) and sets in train the agenda for the 80s, culminating in Nigel Lawson's budget of 1987. A consumer's paradise: low taxation, high credit.

The effect: Huge shopping malls appear on our streets, justified by $1m Christmas bonuses from Goldman Sachs. Also Filofaxes, braces, Porsches, champagne, big advertising budgets, big dresses (with pads), finding yourself (amidst the pads) and saying things like `I need to revise certain aspects of my personality'.

What next? The economy busts - big time. Lamont's budget of 1992 recognises that all is not well, with thousands stuck in a negative equity trap, record unemployment and a ...

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