The crash changed culture less than expected because the superrich recovered within a year.

Evidence

Economist Tyler Cowen predicted in 2009 that “popular culture’s catering to the wealthy may also decline in this downturn. We can expect a shift away from the lionizing of fancy restaurants, for example, and toward more use of public libraries.” This shift never materialized, because within a year, the fortunes of the ultrawealthy bounced back. Wall Street profits hit $19 billion in 2010, approaching pre-crash levels. “On Wall Street,” wrote journalist George Packer, “the financial crisis felt like a speed bump.” As the rich resumed spending, the culture industry faced less pressure to reorient itself toward lower-priced goods. — W. David Marx, Blank Space, 211

Categorization

• XREF: A clean data point for the reader’s counter-case — the blankness of the era may not be a true cultural shift but a ceiling on downward reorientation when elite spending snaps back.