Materialism

Materialism and Perceived Well-Being

Studies of material values have consistently shown that a high degree of materialism ultimately affects consumers' well-being and quality of life. Nevertheless, the criteria for well-being are likely to vary cross-culturally. Consumers low in materialism are more satisfied with their socioeconomic status than are those who place a higher value on material things. In turn, one's perceived socioeconomic status is an important life domain that affects one's evaluation of overall life satisfaction. Related to perceived socioeconomic status effects, the state of the country's economy within which consumers live also appears to influence their level of materialism. A value survey of 50,000 people in 40 countries reveals that individuals in poorer nations appear to be more materialistic than those from wealthier countries.

There is evidence substantiating the negative correlation between materialism and happiness in life. In a Singapore study, those with a higher level of materialistic inclination were significantly less satisfied with life compared with the group with a lower level of materialistic inclination. Other studies have demonstrated negative correlation between materialism and psychological well-being, happiness, or life satisfaction in various regions around the world.

A debate continues in the popular press over whether reducing such materialistic tendencies are indeed the secret to a contented life. Some point out that the negative consequences of such materialistic tendencies are creating higher debt, less savings, more bankruptcies, more stress, and less time for family and friends, and thus a lower quality-of-life satisfaction. Others argue that consumerism is not against our better judgment—it is our better judgment. Our life satisfaction is predicated on the fulfillment of our desires to indulge in luxury spending habits.

Quantity of Television Viewing, Perceived Realism, and Materialism

As access to advanced media, technology, and advertising accelerates exponentially throughout the developing world, it seems particularly relevant to investigate the consequences of such exposure on the evolving cultures of these countries, as well as on individual perceptions regarding their socioeconomic status and relative life satisfaction.

...