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Part of the problem is the “image” that we are expected to portray. Most people subscribe to the theory, “if everyone else is buying it, then I want that too.” If one of your friends went out and bought a new Ferrari, even though he already owned four cars, then you would inevitably feel envy towards him. Society would demand that you went and did exactly the same thing because you cannot look “out of place.”
Broken down, consumerism basically is correlated with social standing. If you are of a certain social class, then specific lifestyle choices are expected of you. Take for instance our neighborhood friend who is making not much more than the minimum wage. She is a teenager so there are always expectations that she is cool enough for her peers. Peer pressure plays an enormous part in consumer spending. Our teenage neighbor makes only $8 per hour, which is barely enough to survive; yet she is spending hundreds of dollars on Gucci shoes and Prada bags. We must ask ourselves why she feels the need to be extravagant when she can’t afford it. The reason for this is twofold: (1) she has to uphold an acceptable image to her peers and (2) she is constantly being bombarded with advertising telling her that her life would be incomplete without a certain product. Advertisers generally use famous people to help promote their products because the regular consumer looks up to them as a role model. Our neighborhood friend is no different from the rest of us—she feels pressured to live a lifestyle that is perceived bring happiness in our lives.
The problem with consumerism is that it increases the gap between the rich and the poor. According to the World Bank, the richest 10% of people on earth account for over half the total consumption. On the other hand, the poorest 10% only contribute less than 1% towards the global total. Consumerism is contributing to the breakdown of societies as
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Work Related Legal/Ethical. This paper discusses ethical issues of doing business. Whenever engaged in any kind of business, there is the need to adopt all ethical issues which ensure that the business will be able to realize its goals. Ethical responsibility improves operations of businesses hence making partnering much convenient for businesses reading from the same script.
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Rose Rubin and Kenneth Koelin examine how elderly households spend on necessities, compared with non elderly households. Using data from 1980-81 and 1989- 90 consumers expenditure survey, they examine expenditures for housing, food at home, and health care, as well as income, demographics, and receipt of cash assistance.
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According to the report social consumerism is mainly associated with the growth of internet technology. Before the internet era, marketers had very different ways of reaching the consumers however the internet era has changed the product marketing without the social networks mainly being used as a marketing channel.
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umerism contributed to industrial revolution due to growing demand for luxurious goods in which new production methods were invented (Mackendrick, Brewer & Plumb1). Hence, prompting people value fashionability over durability because they were only going for the best and trendy
The top ten rice growing nations are China, Indonesia, Thailand, India, Vietnam, Japans, Brazil, Myanmar and Philippines. Another point covered by the paper is on the negative effects of the rice harvesting and production process. The production results into carbon
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