> My personal impression is that the rise of advertising has emerged from the collapse of disposable income.
The rise of the advertising industry actually happened in the 1950s and 60s, when the American middle class was at its peak.
Advertising today is just moving to the Internet, and by dollar amount that means it is falling. Advertising on the Internet is way cheaper than on TV or even in print.
> Advertising today is just moving to the Internet, and by dollar amount that means it is falling.
Do you have a reference for that? I would be extremely surprised if aggregate advertising budgets were falling down. It might be cheaper on the Internet but my gut guess is that more companies are advertising or are advertising in more places.
The rise of the advertising industry actually happened in the 1950s and 60s, when the American middle class was at its peak.
Advertising today is just moving to the Internet, and by dollar amount that means it is falling. Advertising on the Internet is way cheaper than on TV or even in print.