Industrialization has increased our production, which has made consumer products more affordable. The disadvantages of this decline in prices seem to be outweighed by the benefits.
Granted, one might argue that lower prices for consumer goods are detrimental. This is predicated on the assumption that the decreased prices would encourage people to buy these products more . This , according to this theory, results in food and toilet paper being wasted given that these consumers may use these resources excessively because of the cheap cost. Such impulsive spending is likely to damage the natural resources of the world. However, this line of reasoning is not sound because this tendency can be discouraged with more regulations. For example, supermarkets can put a restriction on products such as masks or toothbrush . These limitations can prevent people from using these products without thinking.
There are also stronger reasons why the reduction in the cost of consumer products is beneficial. Chief of these is that it can allow individuals to live a comfortable life. For example, with the affordable prices of food, impoverished people now can worry less about hunger. Similarly, people in the lower income bracket now may spend more money on their hobbies, considering that the huge expense on consumer goods has been reduced. In addition, these people could have the opportunity to study at universities. This is because the cost of going to higher education, which used to be tremendous with eating and clothing expense besides tuition fees is cheaper. This would enable these individuals to have better job prospects, c losing the gap between the rich and the poor.
In conclusion, while the drawbacks of reduced prices of consumer goods may lead to environmental damage, these negatives can be remedied. As a result, the benefits of lower prices appear to be superior to the disadvantages.