Consumerism refers to the belief that acquiring and consuming more goods will lead to greater happiness and fulfillment. The Industrial Revolution helped spread consumerism by enabling mass production of goods. In the 1950s, John Bugas coined the term "consumerism" to describe the American economy which was increasingly driven by consumption. While consumerism drives economic growth, it also has negative effects like environmental degradation, higher debt levels, and impacts on mental health from the pursuit of excess material goods. Critics like Vance Packard argued consumerism promoted waste and excessive materialism.
3. CONSUMERISM
Consumerism or consumerism is a trend based
on the belief that consuming more and owning
more goods will bring more happiness and
pleasure. This word is often used to criticize
occultism. ,
The Industrial Revolution played a major role in
the spread of consumerism. It first began in the
1700s in England and soon spread to many other
countries in Europe and North America
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4. “ In a 1955 speech, John
Bugas (number two at
the Ford Motor Company)
coined the
term consumerism as a
substitute for capitalism to
better describe the
American economy
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5. CONSUMERISM
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Consumerism is a social and economic
order that encourages the acquisition of
goods and services in ever-increasing
amounts.
This system is vitally important to the
economy because it is a major factor in job
and wealth creation.
6. CONSUMERISM
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Consumerism has a good and bad side.
Although consumerism drives economic
growth and boosts innovation, it comes
with a fair share of problems ranging from
environmental and moral degradation to
higher debt levels and mental health
problems
7. Vance Packard
Vance Packard worked to
change the meaning of the
term consumerism from a
positive word about
consumer practices to a
negative word meaning
excessive materialism and
waste 7
8. The ads for his 1960 book The Waste
Makers prominently featured the
word consumerism in a negative way
Since consumerism began, various
individuals and groups have
consciously sought an alternative
lifestyle.
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9. James Gustave Speth argues that
the growth imperative represents the
main goal of capitalistic consumerism
Arguably, the success of the consumerist
cultural ideology can be witnessed all
around the world.
The negative effects of consumerism
include the depletion of natural resources
and pollution of the Earth.
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10. People who rush to the mall to buy products
and end up spending money with their credit
cards could become entrenched in the financial
system of capitalist globalization.
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