Consumerism

Did you ever wonder how or why there are so many commercials late at night trying to sell you something that you don’t want…let alone need? Well, believe it or not, advertising is done to locate buyers, create a need, and fill a desire.

The consumers exist.

But the next question is: how did this massive culture of buying...come about?

The answer is found in the trend known as consumerism.

The social and economic phenomenon of consumerism isn’t rooted in the 1950s Ovaltine ads or radio ads from the 1920. This massive economic trend is built on the idea that, not only is the purchase of goods and services beneficial to an economy, but it's also desirable to do so for market participants.

Consumerism is the idea of “buy things, buy things…don’t stop buying things.” The movement began with the industrial revolution, but accelerated thanks to improving supply chains, labor efficiency, increased advertising, and improving technology.

Thoughout the 20th century, market economies began to mold policies ranging from taxation to labor reform, designed to promote consumerism and bolster aggregate growth.

Naturally, critics exist of this sad throwaway culture. The most prominent critic was also one of the first...a man named Thorstein Veblen, who coined the term conspicuous consumption. He was, uh...kind of a jerk.