41 percent in the last five years and now exceeds $1.2 trillion. - Personal bankruptcies rose by 6 percent to 832,415 by mid-1997 from the prior-year period. - Consumer loans comprised 45 percent of bank lending in 1997, up from around 33 percent 10 years ago. - Nearly 4.25 percent of credit card loans were written off as losses late last year, up from 3.8 percent a year earlier. - Credit card issuers send a record 2.4 million card offers to consumer in 1997, more than double the mailings sent in 1990. - About 376 million Visas and MasterCards were in circulation as of last fall, up 80 percent from five years earlier. - The average household now has four credit cards with balances of around $6,800, up from two cards and $2,340 in balances five years ago. - Consumers owe $360 billion on their cards, double the 1990 level. The VS movement, is viewed by most as the trend toward less clutter in their lives, whether by choice, necessity, or habit. People who have joined the simplicity movement have decided that they will get by with less so that they will have more time. In conclusion as the advances in technology have not brought about increases in more leisure for most people. The increase in technology has had the effect of being able to produce more with less workers, but people are working more hours a day not less. In response to the work hours of modern life and consumerism some people are voluntarily living with less. Will the future be one that resembles the early industrial revolution of working every waking moment? Or will the future resemble science fiction where we have machines do every thing so we can pursue or own pursuits. Until business have a stake in shorter work hours i.e. increased profits I do not believe the trend towards longer work days will reverse any time soon. ...
