2 people chose this as the best definition of consumerism: The consumption of goods... See the dictionary meaning, pronunciation, and sentence examples. When the risk of buying a product is very high, a consumer consults friends, family and experts before making the decision. Examples:-Spending an entire paycheck on a new wardrobe It is also a backbone to globalization and this system maintains disparities between the rich and poor. Advertisements can, of course, help but at the end of the day consumers’ choices are greatly influenced by their preferences. Consumer behaves very different when buying an expensive product or a product that is unfamiliar to him. It also implies that materialism brings bliss to society. Today’s consumption is a major cause of environmental degradation. Consumerism is the theory that states people consuming goods and services in large quantities will be better off. America is known as one of the most materialistic, consumerist countries in the world. Theoretical Influences . A shift away from consumerism, and toward this something else, would obviously be a dramatic change for American society. In industries like fashion or food personal opinions are especially powerful. The textbook definition of consumerism is the practice of purchasing goods that are classified as being beyond the basic necessities of life, such as food, clothing, and shelter.Today, these basic necessities have expanded to a certain extent; a private vehicle is eminently useful, as is a cell phone and to a certain extent, a computer.Apart from this, everything is classified as consumer goods. Non-cyclical consumer stocks are defensive stocks that perform relatively well in declining markets. Every single time we spend money (to purchase a product, a meal, an airline ticket, or to sign up for bank account, etc.) we have a range of choices, some of which are better than others in terms of social and environmental impact. If specifically asked the question, nobody would ever say the secret to a joyful, meaningful life is to buy a lot of stuff. Wasted wealth due to wasted capital leads to wasted labor and wasted resources and to maintain these disparities has been one of the major causes of poverty. In fact, we all know it to be true. This section on the globalissues.org web site … The three “founding fathers” of modern sociology laid the theoretical foundation for the sociology of consumption. Some economists believe that consumer … Often consumerism implies waste, luxury, and decadence. Consumerism is not a pathway to joy and meaning in life. Karl Marx provided the still widely and effectively used concept of “commodity fetishism,” which suggests that the social relations of labor are obscured by consumer goods that carry other kinds of symbolic value for their users. For example, when a consumer is buying a car for the first time, it’s a big decision as it involves high economic risk. 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