Ms. Ina Gard
Effects of Consumerism on Economy.
Consumerism is becoming the hallmark of most world economies. In the West, it is a common phenomenon, but now even developing countries in the world are resorting to it. It has become a latest trend not in young generation but also in adulthood. Consumerism is defined in many ways; some say it refers to the consumption of goods at a higher rate, whereas some say it’s a major crisis that world faces today. It is also known as a modern movement to protect the consumer against useless, inferior or rather dangerous products, misleading advertisements and unfair pricing. In simple terms it is referred as producing goods in favor of consumer. The process will be transmitted from one generation to another through social interaction, discussion with family, friends and work colleagues, TV shows we watch, the magazine we read social media and advertisements we are exposed. Consumerism has a major effect on the growth of American economy as it gives boost to the availability of goods and services, increase in the employment opportunities which increases the risk of reduction of the natural resources and psychological issues within the community.
In consumer society, people replace their goods with newer ones. They purchase goods, use them and forget about the old one. Advertisements and social media play a smart role in advertising for the products. More production of manufactured goods and services has increased the advertisements world, (Shukla). Take cell phones for instant, it has become a need today. Elementary school students are given cell phones for safety reason, giving the growth to the production of cell phones. Furthermore, increases the employment opportunities directly or indirectly associated with the communication industry. Recently Apple has launched the new IPhone six which will be hitting the market late September 2014. With advertisements and proper marketing
Cited: Mayell, Hillary. "As Consumerism Spreads Earth Suffers." National Geographic. National Geographic Society, 12 Jan. 2004. Web. 14 Sept. 2014. . Shukla, Amitabh. "The Effects of Consumerism." The Effects of Consumerism. N.P., 02 July 2009. Web. 14 Sept. 2014. . Speth, James G. "America the Possible: Breaking the Chains of Consumerism." Common Dreams. America the Possible, 10 Sept. 2012. Web. .