Appeared on October 30, 2009
Maria Olivero, assistant professor of economics at the LeBow College of Business, was quoted on an article in Rapaport titled “The Consumer Psyche.”
“It is the American consumer that drives the world economy,” says Olivero. While business leaders point to an increase in consumption in emerging markets like China and Brazil, Olivero says those consumers are not ready to take the spending baton from American shoppers.
“Getting consumers to spend in other parts of the world can’t happen if Americans aren’t spending — their economies still depend on the United States,” she says.