Consumerism
Consumerism is a social and economic order that encourages the acquisition of goods and services in ever-increasing amounts. With the industrial revolution, but particularly in the 20th century, mass production led to overproduction—the supply of goods would grow beyond consumer demand, and so manufacturers turned to planned obsolescence and advertising to manipulate consumer spending. In 1899, a book on consumerism published by Thorstein Veblen, called The Theory of the Leisure Class, examined the widespread values and economic institutions emerging along with the widespread "leisure time" in the beginning of the 20th century. In it, Veblen "views the activities and spending habits of this leisure class in terms of conspicuous and vicarious consumption and waste. Both are related to the display of status and not to functionality or usefulness."
In economics, consumerism may refer to economic policies that emphasise consumption. In an abstract sense, it is the consideration that the free choice of consumers should strongly orient the choice by manufacturers of what is produced and how, and therefore orient the economic organization of a society (compare producerism, especially in the British sense of the term).
Consumerism has been widely criticized by both individuals who choose other ways of participating in the economy (i.e. choosing simple living or slow living) but also by experts evaluating the effects of modern capitalism on the world. Experts often highlight the connection of consumerism with issues like the growth imperative and overconsumption which have larger impacts on the environment, including direct effects like overexploitation of natural resources or large amounts of waste from disposable goods, and larger effects like climate change. Similarly, some research and criticism focuses on the sociological effects of consumerism, such as reinforcement class barriers and creation of inequalities.
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