Consumerism

AAA

DEFINITION of 'Consumerism'

The theory that a country that consumes goods and services in large quantities will be better off economically. Consumerism for example, is an industrial society that is advanced, a large amount of goods is bought and sold.
Sometimes referred to as a policy that promotes greed, consumerism is also coined as a movement towards consumer protection that promotes improvement in safety standards and truthful packaging and advertisement. Consumerism seeks to enforce laws against unfair practices implement product guarantees.

INVESTOPEDIA EXPLAINS 'Consumerism'

Over-consumption is sometimes negatively attributed to consumerism. For instance some people might argue that Christmas holidays are a time of consumerism due to the large amounts of goods that are purchased during this time. Consumers strive to find the perfect gifts and this creates a demand for goods and promotes greed. Consumerism causes a materialistic belief that the more materials acquired the better, implying an increased value placed on material possessions.

RELATED TERMS
  1. Anarcho-Capitalism

    A term coined by Austrian-school economist Murray Rothbard to ...
  2. Consumption Smoothing

    The ways in which people try to optimize their lifetime standard ...
  3. Compulsive Shopping

    An unhealthy obsession with shopping that materially interferes ...
  4. Time-Preference Theory Of Interest

    A theory that examines the nature of consumerism, and the factors ...
  5. Personal Consumption Expenditures ...

    A measure of price changes in consumer goods and services. Personal ...
  6. Consumption Function

    The consumption function is a mathematical formula laid out by ...
Related Articles
  1. Credit & Loans

    The Disposable Society: An Expensive ...

  2. Credit & Loans

    Avoid The Generation Debt Trap

  3. Budgeting

    The Dark Side Of Bulk Buying

  4. Options & Futures

    Extreme Socially Responsible Investing

Hot Definitions
  1. Capitulation

    When investors give up any previous gains in stock price by selling equities in an effort to get out of the market and into ...
  2. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  3. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  4. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  5. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  6. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
Trading Center