Sociology 125 Lecture 8 Thursday, September 27 Consumerism

1. Sociology 125 Lecture 8 Thursday, September 27 Consumerism

2. 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

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

4. % of new home construction 45 40 Over 2,500 square feet 35 30 25 20 15 Under 1,200 square feet 10 5 0 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 Construction of Small & Big houses, 1973-2005 Over 2500 square feet Under 1200 square feet

5. What is wrong with consumerism?

6. 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.

7. System bias #1: Profit maximizing strategies

8. 2 weeks of time 1 week of time

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

10. 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

11. From Juliet Schor, The Overworked American, p. 130

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

14. System bias #4: Credit cards

16. System bias #5: Rising inequality increases consumerism

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