RST 100 1st Edition Lecture 23 Outline of Last Lecture I Balancing Leisure and Work a Connections between work and leisure b Alternative Life Plan c Work leisure and life satisfaction Outline of Current Lecture I II III V Economic Development a Developed vs Developing Capitalism a Antagonistic Relationship Consumerism a Harries Leisure Class How Leisure helps harms our economy Current Lecture Making Connections Relationships between leisure and economic development Capitalism and consumerism Leisure helps shape an economy and is affected by changes in an economy o NCAA brings in profits to help the economy o Developing country tourism brings money into it o Leisure is affected when there is a deficit on economy tourism and leisure are therefore the first to go 1st Economic Development Economies develop when they increase the wealth and well being of their people Economic development implies These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute o Available leisure time resources opportunities o High standards of living money living conditions etc In Developed Economies More people have economic stability basic needs are satisfied Can focus more on leisure services Higher amounts of discretionary income Leisure itself is an industry o Demand has been created o Disney World and Sea World In Developing Countries Discretionary income and recreational resources can be scarce A leisure class is often supported by a working class Economic development is huge for how big leisure is available Veblen 1988 Conspicuous consumption of the wealthy Only the wealthy could afford to have leisure Demonstrate wealth through leisure Leisure was the main way for the affluent to demonstrate their status Does leisure designate wealth Yes our toys are often our social ID Research the less money a peer group has the more bling it buys and vice versa Wealthy people living with other wealthy people spent less on conspicuous leisure while wealthy living near poorer people spent more Why People comparatively richer than those around them want to show off their wealth distinguish themselves Wealth increases happiness when it lifts people into the middle class and out of poverty ICLICKER Slomo Financial and Spirituality skater who left everything Acquiring wealth and the social norm Capitalism Economic system based on private ownership Promotes a free market regulated by supply and demand Goal profit How does leisure fare under capitalism Antagonistic The more leisure the less progress The more progress the less leisure Under capitalism leisure is not an individual right but given as a reward or withheld as a punishment However if consumption is the main focus of one s leisure then capitalism fits Consumerism Purchasing goods and services in ever greater amounts Can include buying unnecessary things in an exaggerated way Expenditure for leisure good have been increasing at a faster rate than other merchandise o New bike o New motorcycle o New car Shopping For some consumption is a form of leisure Visiting malls is a leisure activity When given free time people shop Viewed as entertainment Black Friday At the local level the economic effect is nearly immediate Can also be felt for months afterwards CyberMonday 40 of respondents said they d shop between Black Friday and Cyber Monday Buy Nothing Day BND Is an international day of protest against consumerism Typically celebrated the Friday after Thanksgiving in US and the following day internationally Began in 1992 in 1997 date set for Black Friday o One of the 1 busiest shopping days in US o Small portion of people against consumerism and having so much stuff The Harried Leisure Class by Linder Consumption is the Antithesis of leisure we have to work more to be able to buy more things and thus get into a hectic never satisfied materialistic frenzied cycle Why do we do it To be happier but are we 1970 Happiness and Wealth Wealth increases happiness when it lifts people out of poverty into middle class Lottery winners much happier after winning lottery but one year later their happiness was not much higher Leisure Benefits an Economy Employment opportunities Attracts businesses Reduces crime Increases employee productivity Increases property values Special events tourism boost local economies Parks and open space reduces obesity and health care costs Leisure Harms an Economy Decreased productivity of workers for leisure related reasons Increased crime due to deviant leisure activities Costs related to leisure injuries activities o Rescues unintentional injuries