What is meant by consumerism?
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Consumerism is a social and economic order that encourages an acquisition of goods and services in ever-increasing amounts. ... In this sense, consumerism expresses the idea not of "one man, one voice", but of "one dollar, one voice", which may or may not reflect the contribution of people to society.
what is consumerism
Consumerism is the idea that increasing consumption of goods and services purchased in the market is always a desirable goal and that a person's wellbeing and happiness depends fundamentally on obtaining consumer goods and material possessions. In an economic sense, it is related to the predominantly Keynesian idea that consumer spending is the key driver of the economy and that encouraging consumers to spend is a major policy goal. From this point of view, consumerism is a positive phenomenon that fuels economic growth.
In common use, consumerism refers to a tendency of people living in a capitalist economy to engage in a lifestyle of excessive materialism that revolves around reflexive, wasteful, or conspicuous overconsumption. In this sense, consumerism is widely understood to contribute to the destruction of traditional values and ways of life, exploitation of consumers by big business, environmental degradation, and negative psychological effects. Early uses of the term in the mid-20th century were intended to have a positive connotation, which would emphasize the benefits that capitalism had to offer consumers in improving standards of living and an economic policy that would prioritize the interests of consumers, but these meanings have fallen out of general use.
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