Although there has been much discussion about consumerism throughout the years, most people agree that it is a bad thing for any nation. Consumers agree that consumerism stimulates demand and innovation, but it also leads to other issues including environmental damage and social instability. This article will examine each of the aforementioned viewpoints and my own.
The story is different for most advocates of consumerism; they believe that it is an important factor for the economic development of a country. Let’s note how in the economy of the United States and China consumer spending plays a very significant role, and this only encourages countries to produce more. Indeed, as demand grows, suppliers meet it by developing, increasing their production, and creating new jobs. This leads to a greater variety of products, lower prices, and increased competition among businesses. In addition to this, a healthy consumer market may attract foreign investments, which would only encourage further growth.
On the other hand, the critics of consumerism insist that it has an adverse impact on the society and the environment. The unending acquisition of goods often edges people towards overconsumption that exhausted natural resources and creates excessive waste. For example, the fast fashion industry relies on its customers buying cheap materials and then constantly tossing them away, which is dreadful for the environment. Also, the promotion of consumerism can aggravate social injustice for it inculcates values that determine a person’s success in terms of material possessions. All of these virtually identify a specific view of an individual’s personality and can overly stress those who try to adhere to consumerism shocks and trends.
In this sense, I will argue that although consumerism could serve as a boost for economic growth, it cannot suffice. It is time for these countries and municipalities to start easing the burden of their citizens by advocating rational and responsible consumption ideals along with practical measures to show the consequences of overconsumption in regards to the environment and society. A world managed properly in these two areas should greatly benefit.