Copyright©2009 Taylor & Francis Group, an informa business Consumer Economics Chapter 2 The Consumer Movement Copyright©2009 Taylor & Francis Group, an informa business

Learning Objectives Trace the Beginnings of the Consumer Movement Identify contributors and their contributions How has the consumer movement changed since 1800 Give examples of worldwide consumer concerns

Introduction Factors in the development of the consumer movement Law of comparative advantage Rational self-interest Conspicuous consumption Demographic and consumption shifts

Consumerism & the Consumer Movement Defined The Consumer Movement refers to policies aimed at regulating products, services, methods, and standards of manufacture, selling, and advertising in the interests of the buyer.

Copyright©2009 Taylor & Francis Group, an informa business

Decades of Consumerism 1880 - 1900 Sherman Antitrust Act Hucksterism Early 1900 Harvey Wiley - founder of the consumer movement Upton Sinclair and Theodore Roosevelt

Decades of Consumerism Clayton Act Federal Trade Commission 1920’s Start of the depression

Decades of Consumerism John Maynard Keynes Franklin Roosevelt John Galbraith 1940’s War and the Post-war period

Decades of Consumerism Age of private consumption 1960’s Health and environmental concerns John F. Kennedy

Decades of Consumerism Consumer protection legislation 1980’s The age of the yuppie

Decades of Consumerism Dawn of the Internet Online shopping vs. offline shopping 2000’s Deregulation and economic downturn

Copyright©2009 Taylor & Francis Group, an informa business Conclusion Continuing consumer legislation The consumer movement Health and environmental concerns Copyright©2009 Taylor & Francis Group, an informa business

Chapter Summary The philosophy and elements of the consumer movement The history of the consumer movement Impact of new ideas and technology