Essay Example about Consumerism
Consumerism is a cultural and economic method of viewing and comprehending the economy, based on people in a specific country who consume an ongoing supply of products and services. Individual consumer goods and services consumption adds to society's economic engine, giving company owners jobs and money. While consumerism is mostly linked with capitalism, it may exist in a variety of economic systems. In modern, democratic nations with different economies, such as the US, England, France, and Canada, consumption is highly essential. Furthermore, because it encompasses the supply of goods and services and the demand consumption of products and services by individual customers, consumerism is an essential component of the supply and demand idea. To properly comprehend the relevance of consumerism as an ideology, one must first comprehend its evolution across time, as well as its benefits and drawbacks.
On the other hand, economists believe a consumption is vital both for domestic and global economic growth. Consumption is central to the concept that customers buy items from manufacturers' businesses in significant quantities. This system is vital for the economy since it contributes substantially to job creation and income growth. Continuous product use, for example, produces employment for several people and firms in a consumerist culture. These include those who own the items and the staff who work directly on the design and manufacture of the product. A second positive aspect of consumerism is that it is generally beneficial to businesses and can result in a large accumulation of money for entrepreneurs. Consumption, for example, has resulted in the emergence of several large worldwide corporations over the twentieth century. Through their manufacturing, distribution, and sales, these companies operate in a wide range of countries throughout the world. This trend has enabled several multinational corporations to amass vast sums of money. Apple, Walmart, Nike, and other companies are examples. As a result, consumerism has aided corporate growth and the economy as a whole factory. In addition, when large companies expand, work is done as stores and shops are constructed for the items. This development of jobs is crucial since it is the most essential part of a consumerist culture's economic well-being. For instance, consumerist jobs are an effective means of transferring money across society from consumers to producers and finally to employees. It has developed an expanding system that produces employment and income for the remainder of society.
The third positive element of consumption is the development of businesses. While consumerism has benefited corporate growth, it has also resulted in increased rivalry among diverse businesses competing for sales in the market. Competition is an essential component of economics, and it is a central tenet of right-wing economic systems such as laissez-faire capitalism and free-market economies. Laissez-faire capitalism, which developed during the Industrial Revolution, suggested that people and companies compete against one another, with market variables such as supply and demand determining their success. The capitalists of Laissez-faire argued that competition benefited society in a variety of ways. This included reducing product and service prices as producers battled to promote the business of consumers and encourage product and service innovation as companies attempted to outdo one another. Current companies like Apple and Samsung, for example, battle the business of customers, which leads to new features in their telephones while maintaining their prices as low as feasible.
The second major beneficial factor in consumerism was competition, which led to the creation of a wide range of products and services between firms. As consumerism increased in the 1800s and 1900s, new items and services accessible to customers were explosive. As firms compete, they are always looking for fresh ideas for their products. Consequently, today people have numerous alternatives for their level of consumption. This has undoubtedly benefited individuals in several ways today, including living standards. In general, living standards refer to the range and the number of things a person owns. A person with a high quality of life can usually buy a wide range of products and services, but nobody with a poor standard of living. The most significant standards of life globally are typically seen in countries centered on consumption like the USA, Canada, Britain, and France. People in these nations not only profit from access to luxury products such as telephones, gadgets, and home items but also the consumerist influences on services like health and education. Consumerism thereby enables more access to life-enhancing products and services.
There are cons to consumerism, such as increased product demand placing considerable strain on natural resources such as water and raw materials. Consumerism also leads to excessive energy utilization. The use of known chemicals that harm the environment is also encouraged by consumption. Briefly, consumerism harms the environment more than good. Growing materialism tends to push society away from key values such as honesty. Instead, consumerism and competitiveness are strongly focused. Many people tend to purchase non-necessary things and services so that they may be more equal or superior to everyone. In society, too, consumption increases debt. There has been a dramatic increase in the number of people accepting short-term loans, such as luxury lending. Today, many short-term loans do not become productive. Consumerism increases debt levels, leading to difficulties such as stress and depression in mental health. When you have limited finances, trying to follow the newest trends may be quite cumbersome for the mind and body. Consumerism drives individuals to work harder, make money more, and stay less with their loved ones. Consumerism is in the process of productive connections. It has a detrimental impact on people's well-being overall in the long term because research has proved that materialism does not give individuals valuable and sustainable fulfillment.
There's a positive and negative side to consumerism. While consumerism promotes economic development and innovation, it has a fair proportion of the difficulties ranging from environmental and moral decay to increased levels of debt and problems with mental health. Because we are currently in a consumerist culture, a healthy balance should be struck. Living love shouldn't be at the price of a person's mental health and financial security.
