Econ. Prof. Austan Goolsbee does so very well, listing three causes. The internet is only one, and the weakest of the three. Number two is probably the most important, and it is directly linked with no. three,
Services Instead of Things: With every passing decade, Americans have spent proportionately less of income on things and more on services. Stores, malls, and even the mightiest online merchants remain the great sellers of things. Since 1960, we went from spending 5 percent of our income on health to almost 18 percent, governmentstatistics show. We spend more on education, entertainment, business services and all sorts of other products that aren’t sold in traditional retail stores.
Spending almost four times as much on health and people are less healthy than ever. So much more on education, yet dumber than ever. The people need the entertainment to take their minds off of losing their economy, etc. And the “business services?” That means paying for financing, sorcery.