The overspent American : upscaling, downshifting, and the new consumer

The Overspent American explores why so many of us feel materially dissatisfied, why we work staggeringly long hours and yet walk around with ever-present mental "wish lists" of things to buy or get, and why Americans save less than virtually anyone in the world. Unlike many experts, Harvard economist Juliet B. Schor does not blame consumers' lack of self-discipline. Nor does she blame advertisers. Instead she analyzes the crisis of the American consumer in a culture where spending has become the ultimate social art.

An in-depth look at the corruption of the “American Dream,” the follow-up to the the Overworked American examines the consumer lives of Americans and the pitfalls of “keeping up with the Joneses.” Schor explains how and why the purchases of others in our social and professional communities can put pressure on us to spend more than we can afford to, how television viewing can undermine our ability to save, and why even households with good incomes have taken on so much debt for so many products they don’t need and often don’t even want.

Juliet Schor presents original research showing how keeping up with the Joneses has evolved from keeping pace with one's neighbors and others in a similar social set to keeping up with a referent group that may include co-workers who earn five times one's own salary or television "friends" whose lifestyle is unattainable for the average person. The book also describes the growing backlash of people who are "downshifting" by working less, earning less, and finding balance by getting their lifestyles in sync with their values. Targets consumerism as the root of many Americans' material dissatisfaction, showing how modest goals for getting ahead have turned into unrealistic lifestyles