
Merits and demerits of consumerism. This has drawbacks such as serious environmental harm (pollution, resource depletion, climate change), increased debt, social anxiety, promotion of inequality, and potential labor exploitation, creating a cycle of over consumption frequently associated with unhappiness. On the plus side, consumerism stimulates economic growth, job creation, innovation, and offers greater choices, improving living standards.
MERITS AND DEMERITS OF CONSUMERISM
Expanding one’s consumption of goods and services from the market is always a desirable goal, and consumerism holds that obtaining consumer goods and material possessions is an essential condition for one’s happiness and well-being. Consumerism is sometimes used to describe the propensity of people living in a capitalist economy to pursue an overly materialistic lifestyle focused on wasteful, flashy, or reflexive over consumption.
Advantages Of Consumerism;

Consumer spending has the power to propel an economy and boost output of goods and services, according to proponents of consumerism. The GDP may increase as a result of increased consumer expenditure. Consumer confidence metrics and personal consumption expenditures are all indicative of strong consumer demand. Sales of consumer goods can provide profits for company owners and owners of raw materials, either directly or through intermediaries.
Disadvantages;

Merits and demerits of consumerism
Although, Cultural arguments are frequently used to critique consumerism. Some perceive materialism as the result of consumerism, leading to a culture that disregards other values. There is a chance that the emphasis on consuming increasingly more expensive items in greater quantities.

Merits and demerits of consumerism
Because it encourages the manufacture and consumption of internationally traded goods and brands, which may not be compatible with regional cultures and economic activity patterns, consumerism is frequently linked to globalization. Incentives to take on unmanageable debt levels
Also, insofar as consumer products industries and the direct consequences of consumption generate unfavorable environmental externalities, environmental issues are often linked to consumerism.
Examples;

Merits and demerits of consumerism
Examples include going on shopping sprees, particularly ones that draw a big crowd, like the Black Friday deals the day after Thanksgiving. The yearly release of newer mobile phone models is another illustration of consumerism. Even though a few years old mobile device may still be functional and sufficient, consumerism forces consumers.
consumer spending
Summary
Driven by mass production, marketing, and capitalism, consumerism is a social and economic ideology that views the acquisition of goods and services—often beyond basic needs—as essential to individual well-being, happiness, and societal advancement. This leads to both economic growth and criticisms regarding materialism, environmental impact, and psychological effects.
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