Leisure Pays Chapter 11 Flashcards

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Questions and Answers

Define 'Conserver Leisure'.

Leisure goods and services that do not rely on consumption (e.g., walking and playing in the park, recycling children's toys and sports equipment).

What are the Measures of Economic Development in relation to Leisure? (Select all that apply)

Human Development Index (HDI) (correct)

Gross Domestic Product (GDP) (correct)

Purchasing Power Parity (PPP) (correct)

Standard of Living (correct)

Define Standard of Living.

The degree of prosperity in an economy, measured by income levels, quality of housing and food, medical care, educational opportunities, etc.

Define Gross Domestic Product (GDP).

Total market value of the goods and services produced in an economy. Signup and view all the answers

Define Purchasing Power Parity (PPP).

A ratio that compares the relative affordability of goods and services in different economies. Signup and view all the answers

Define Big Mac Index.

A demonstration of PPP based on the prices of the Big Mac sandwich in McDonald's restaurants around the world; published each spring by the Economist. Signup and view all the answers

Define Human Development Index (HDI).

A summary measure of livability in an economy, indicating people’s overall quality of life. Signup and view all the answers

How does Economic Development relate to Leisure?

Economic development implies quality of leisure time, resources, and expression; in developing countries, leisure is only possible because of economic status. Signup and view all the answers

Explain Veblen's ideas about the 'Leisure Class'.

Veblen concluded that leisure is an aristocratic possession and a status symbol of wealth, as only the affluent could afford idleness. Signup and view all the answers

Define Capitalism.

The system of privately possessing capital, based on private ownership of the means of production and distribution of goods and services. Signup and view all the answers

What did Adam Smith think of the relationship between Capitalism and Leisure?

Smith believed leisure was an obstruction to progress; more leisure means less progress and vice versa. Signup and view all the answers

What did Karl Marx think of the relationship between Capitalism and Leisure?

Marx believed that leisure is harmed when not equally available and defined by the value of labor; to gain more leisure, the lower classes must overthrow the upper classes. Signup and view all the answers

What did Juliette Schor think of the relationship between Capitalism and Leisure?

Schor argued that capitalism expands work to the detriment of leisure, requiring more work to sustain a high lifestyle. Signup and view all the answers

Define Consumption.

All purchases of goods and services for personal use. Signup and view all the answers

How does Consumption relate to the Economy & Leisure?

Consumption patterns reflect an individual's or society's economic status; spending is a form of leisure experience. Signup and view all the answers

Define and explain the 'Harried Leisure Class'.

A term that refers to spending for leisure and thus spoiling leisure by making us feel frantic. Signup and view all the answers

How does Leisure Benefit an Economy?

Leisure creates employment opportunities, reduces health-care costs, contributes tax revenues, and impacts property values. Signup and view all the answers

How does Leisure Harm an Economy?

Leisure can incur costs related to injuries and contribute to a negative balance of payments. Signup and view all the answers

Study Notes

Conserver Leisure

Refers to leisure activities that do not depend on consumption, such as enjoying nature or reusing items.

Measures of Economic Development in Leisure

Standard of living, GDP, PPP, and HDI are key indicators used to assess economic development in relation to leisure.

Standard of Living

Represents an economy's prosperity, gauged through income, housing quality, food availability, healthcare, education, and more.

Gross Domestic Product (GDP)

Total market value generated by goods and services in an economy, excluding considerations for inflation, PPP, and HDI.

Purchasing Power Parity (PPP)

A ratio comparing goods and services' affordability across economies, indicating currency value based on local buying power.

Big Mac Index

An informal measurement of PPP using the price of a Big Mac from McDonald's globally, released annually by The Economist.

Human Development Index (HDI)

A composite index that evaluates overall quality of life through life expectancy, literacy rates, and GDP per capita adjusted for PPP.

Economic Development and Leisure

Quality of leisure time and resources depends on economic development; in developing nations, leisure is mostly enjoyed by the economically elite.

Veblen's Leisure Class

Veblen argued that leisure is a luxury accessible to the wealthy, associated with status and conspicuous consumption, reflecting economic inequality.

Capitalism

An economic system prioritizing private ownership of production and distribution, driven by supply and demand to generate profits.

Adam Smith's Perspective

Believed capitalism fosters a self-interest economy, suggesting that excessive leisure obstructs progress and productivity.

Karl Marx's Perspective

Argued leisure is compromised when not equally available, asserting that the working class must gain leisure by overcoming the upper class.

Juliette Schor's Perspective

Suggested capitalism expands work at the expense of leisure, leading to consumerism that diminishes individuals’ quality of life and leisure time.

Consumption

Represents all personal purchases of goods and services, significantly influencing economic status and leisure experiences.

Consumption's Relation to Economy & Leisure

Individual and societal economic status determines consumption patterns, highlighting the impact of spending on leisure activities.

Harried Leisure Class

Coined by Staffan Linder, this concept describes how excessive spending on leisure results in a frantic lifestyle, undermining true leisure.

Economic Benefits of Leisure

Generates job opportunities in sectors like event planning, tourism, and recreation, leading to lower healthcare costs and increased productivity.

Taxes and Government Revenue

Leisure contributes to public welfare through taxes on leisure goods, with funds supporting local art and recreation services.

Property Values

Properties adjacent to leisure spaces, such as parks, often see increased values, benefiting the local economy.

Economic Downsides of Leisure

Leisure can impose financial burdens due to injuries and may contribute to a negative balance of payments if imports exceed exports.

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Description

Test your knowledge with these flashcards covering key concepts from Chapter 11 of 'Leisure Pays'. Learn about conserver leisure and the measures of economic development related to leisure activities. Perfect for students and enthusiasts alike.