In: Economics
What is consumerism and what can it become? Why could consumerism ultimately cause discontent? What do you think are ways for consumerism to not generate discontent?
Consumerism
Consumerism is an economic theory according which countries get better off depending on the levels of goods and services they consume. There’s a positive relationship between the both.
Consumerism can become a problematic theory in future if not controlled. Here’s how.
Consumerism causes discontent due to the following reasons:
The increased consumption of goods and services that the theory suggests has been achieved by rich nations which have created a major gap between rich and poor countries. This has indeed led to the greater inequality between the countries and could do more.
When more and more goods and services will be consumed by the rich nations, there will be the faster depletion of natural resources. This harms the environment. The supplies that the nature gives us will come to an end very fast then it is ever expected.
Overconsumption of goods and services also has heath effects on those who consume it. This leads to excess body fat which creates harmful and dangerous problems in the body. It however in the race of achieving better status and development, can cause problems with one’s individual life.
Ways for consumerism to not generate discontent are: