Capitalism vs. Consumerism

Capitalismnoun

(politics) A socio-economic system based on private ownership of resources or capital.

Capitalismnoun

(economics) An economic system based on private ownership of the means of production and their operation for profit.

Capitalismnoun

A socio-economic system based on private property rights, including the private ownership of resources or capital, with economic decisions made largely through the operation of a market unregulated by the state.

Capitalismnoun

An economic system based on the abstraction of resources into the form of privately owned capital, with economic decisions made largely through the operation of a market unregulated by the state.

Capitalismnoun

An economic system based on predominantly private (individual or corporate) investment in and ownership of the means of production, distribution, and exchange of goods and wealth; contrasted with socialism or especially communism, in which the state has the predominant role in the economy.

Capitalismnoun

an economic system based on private ownership of capital

Capitalism

Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor.

Consumerismnoun

A policy of protecting and informing consumers through honesty in advertising and packaging, improved safety standards etc

Consumerismnoun

A materialistic attachment to possessions.

Consumerismnoun

An economic theory that increased consumption is beneficial to a nation's economy in the long run.

Consumerismnoun

the theory that an increasing consumption of goods is economically beneficial

Consumerismnoun

a movement advocating greater protection of the interests of consumers

Consumerism

Consumerism is a social and economic order 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 manufacturers turned to planned obsolescence and advertising to manipulate consumer spending.