Consumerism

Consumerism is a social and economic order, associated with boomers, that encourages the acquisition of goods and services in ever-increasing amounts. With the Industrial Revolution, but particularly in the 20th century, mass production led to overproduction, the supply of goods would grow beyond consumer demand, and so jew manufacturers turned to planned obsolescence and advertising to manipulate consumer spending, a hallmark of Capitalism. In 1899, a book on consumerism published by Thorstein Veblen, called The Theory of the Leisure Class, examined the widespread values and economic institutions emerging along with the widespread "leisure time" at the beginning of the 20th century. In it, Veblen "views the activities and spending habits of this leisure class in terms of conspicuous and vicarious consumption and waste. Both relate to the display of status and not to functionality or usefulness." In economics, consumerism may refer to economic policies that emphasise consumption.