Consumerism

Definition

Consumerism is an economic and social order that encourages the acquisition of goods and services in ever-greater amounts. It is a cultural orientation that equates personal happiness with purchasing material possessions and consuming goods and services. Consumerism is particularly relevant in the context of business ethics and culture, as it shapes the values, behaviors, and decision-making processes of both businesses and consumers.

5 Must Know Facts For Your Next Test

1. Consumerism is often driven by marketing and advertising campaigns that create artificial needs and desires in consumers.
2. The rise of consumerism has been linked to increased environmental degradation, resource depletion, and social inequality.
3. Businesses may engage in unethical practices, such as deceptive marketing or planned obsolescence, to perpetuate a culture of consumerism.
4. Consumers can challenge consumerism by adopting more sustainable consumption habits, such as reducing waste, reusing products, and purchasing ethically-sourced goods.
5. Consumerism can have a significant impact on an individual's well-being, as the pursuit of material possessions may not lead to lasting happiness or fulfillment.

Review Questions

• Explain how consumerism can influence the relationship between business ethics and culture.
  • Consumerism can significantly impact the relationship between business ethics and culture. Businesses may prioritize profits and market share over ethical considerations, leading to practices that exploit consumers or the environment. This can create a cultural norm where material possessions and consumption are valued above social responsibility or environmental sustainability. Conversely, a culture that promotes ethical consumption and corporate social responsibility can encourage businesses to adopt more sustainable and socially conscious practices.
• Describe how the rise of consumerism has contributed to environmental degradation and resource depletion.
  • The rise of consumerism has been a major contributor to environmental degradation and resource depletion. The constant demand for new products, driven by marketing and planned obsolescence, has led to increased resource extraction, energy consumption, and waste generation. This has put significant strain on the planet's ecosystems, depleting natural resources and generating large amounts of pollution and greenhouse gas emissions. Businesses that prioritize profits over environmental sustainability often engage in unsustainable practices, further exacerbating the negative impact of consumerism on the environment.
• Evaluate the role that consumers can play in challenging a culture of consumerism and promoting more ethical and sustainable business practices.
  • Consumers can play a crucial role in challenging a culture of consumerism and encouraging more ethical and sustainable business practices. By adopting sustainable consumption habits, such as reducing waste, reusing products, and purchasing ethically-sourced goods, consumers can signal to businesses that there is demand for more responsible products and services. Additionally, consumers can engage in activism, boycotts, or social media campaigns to hold businesses accountable for unethical practices and promote a shift towards greater corporate social responsibility. Ultimately, a cultural shift away from mindless consumerism and towards more conscious and ethical consumption can create incentives for businesses to align their practices with the values and expectations of their customers.

Related terms

Materialism: The belief that material possessions and physical comfort are more important than spiritual or intellectual development.

Overconsumption: The consumption of goods and services at a rate that exceeds the sustainable use of natural resources and the environment's capacity to absorb the resulting waste.

Planned Obsolescence: A business strategy in which the lifespan of a product is deliberately limited to encourage frequent replacement and continued consumption.