The term consumerism may be understood using four distinct interpretations: (1) the movement within society and government to protect consumers from defective or otherwise unsafe products, (2) the demand-side economic theory (usually associated with Keynesian economics) that increasing consumption of consumer goods drives economic growth as opposed to encouraging higher rates of saving as a national economic policy, (3) a societal state in which happiness and/or success is equated with increased consumption and a concomitant creation of limitless demand, and (4) a combination of the second and third meanings in which an emphasis of advertising and marketing is concentrated on the creation of consumers within a culture that embodies limitless demand. Each of these meanings of “consumerism” has specific and important application in the understanding ...

  • Loading...
locked icon

Sign in to access this content

Get a 30 day FREE TRIAL

  • Watch videos from a variety of sources bringing classroom topics to life
  • Read modern, diverse business cases
  • Explore hundreds of books and reference titles