Sociology 125 Lecture 8 Thursday, September 27 Consumerism

Definitions Consumerism: The belief that personal well-being, happiness and status depend largely on the level of personal consumption, particularly the acquisition of material goods. Hyper-consumerism: the frenetic pursuit of consumer goods

Growth in median size of new home construction in the U.S., 1963-2007

% of new home construction Under 1,200 square feet Over 2,500 square feet Construction of Small & Big houses, 1973-2005 5 10 15 20 25 30 35 40 45 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 Over 2500 square feet Under 1200 square feet

What is wrong with consumerism?

What is wrong with consumerism? There are big negative externalities from consumerism Consumerism in fact does not make most people happy There are systematic biases in the system which generate consumerism. If these system-biases were eliminated, many – maybe most – people would adopt a less consumerist life style.

Profit maximizing strategies System bias #1: Profit maximizing strategies

2 weeks of time 1 week of time

Market-failures in leisure System bias #2: Market-failures in leisure

9 weeks Number of hours more per year on average that Americans work than people in other countries 6 weeks 3.4 weeks .5 weeks

From Juliet Schor, The Overworked American, p. 130

Changing reference group for consumption norms System bias #3: Changing reference group for consumption norms

System bias #4: Credit cards

Rising inequality increases consumerism System bias #5: Rising inequality increases consumerism

Abandonment of public consumption by affluent System bias #6: Abandonment of public consumption by affluent