Is consumerism good or bad for the world - Essay Example

will be explained in detail below using several theories such as Maslow’s theory, Herzberg’s needs theory and other motivational theories as well. The counterarguments of consumerism are from critics. Consumerism from its definition by various individuals and researchers is economically beneficial as people purchase goods in bulks which in the long run saves money and time both of which are economical (Roche, 2009, pg. 12). Economists actually support the idea of consumerism in as far as purchasing in large quantities is concerned but not when it comes to wastage in large amounts.

This excessive consumption is an indication of the large amounts of money the consumers have and this is present in many of the first world nations who have a lot of money and hence the means to spend them in large consumption. Consumerism according to Maslow leads to achievement of satisfaction for the individuals who engage in it. People engage in consumerism in order to try and seek psychological satisfaction and also because they aim to achieve a sense of self-actualization (Burger, 2010, pg. 5). They therefore engage in consumption of objects and other things that would lead to derivation of that satisfaction.

Even though many do not reach self-actualization, they still manage to fulfil some of their needs and hence getting the satisfaction they desire. The consumption of things such as energy, food, security, good job, having a lot of money and family are some of the things most people desire and try to achieve and which when achieved lead to satisfaction. All these would not have been possible without consumerism. Also as a result of the positive outcome brought about by consumerism to majority of the benefactors, they are motivated to put more effort in the future in order to get the same results as is explained by Vroom’s expectancy theory.

Consumerism is an indication of wealth whether personal or that of the whole nation. Statistics indicate that wealthy nations such