Consumerism

Consumerism,

Definition of Consumerism:

  1. Continual expansion of ones wants and needs for goods and services.

  2. 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.

  3. The protection or promotion of the interests of consumers.

  4. Organized-efforts by individuals, groups, and governments to help protect consumers from policies and practices that infringe consumer rights to fair business practices.

  5. The preoccupation of society with the acquisition of consumer goods.

  6. 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.

  7. Doctrine that ever-increasing consumption of goods and services forms the basis of a sound economy.

Synonyms of Consumerism

Buy, Buying, Buying power, Buying up, Catalog buying, Coemption, Consumer power, Consumer sovereignty, Cornering, Emption, Hire purchase, Impulse buying, Installment buying, Mail-order buying, Marketing, Money illusion, Purchase, Purchasing, Purchasing power, Rebuying, Repurchase, Shopping, Shopping spree, Window-shopping

How to use Consumerism in a sentence?

  1. Consumerism is the theory that states people consuming goods and services in large quantities will be better off.
  2. The mall owners were overjoyed to see people were spending money freely and relieved the recent economic downturn had not diminished their customers rampant consumerism .
  3. Those who live simply, keeping few possessions, are often appalled by what they view to be rampant consumerism in others.
  4. However, consumerism has been widely criticized for its economic, social, environmental, and psychological consequences.
  5. It has been said that the United States has become a society of consumerism , wanting more and more stuff that they dont really need.
  6. The growth of consumerism has led to many organizations improving their service to the customer.
  7. Some economists believe that consumer spending leads to an increase in production and economic growth.

Meaning of Consumerism & Consumerism Definition