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Definition of 'Consumerism'

Consumerism is a term that describes the culture of buying and using goods and services. It is often seen as a negative force in society, as it can lead to people spending more than they can afford and accumulating debt. However, consumerism can also be seen as a positive force, as it can stimulate the economy and create jobs.

There are a number of factors that have contributed to the rise of consumerism in recent years. These include:

* Increased affluence: In many countries, people have more disposable income than ever before. This has led to an increase in spending on goods and services.
* Increased advertising: Advertising has become increasingly sophisticated and persuasive, and it has played a major role in creating a culture of consumerism.
* Social media: Social media has made it easier for people to share their purchases with others, and this has created a sense of FOMO (fear of missing out) that can lead to people buying more things than they need.

The effects of consumerism can be both positive and negative. On the positive side, consumerism can stimulate the economy and create jobs. It can also lead to new innovations and products that improve people's lives. On the negative side, consumerism can lead to people spending more than they can afford, accumulating debt, and experiencing stress and anxiety.

It is important to be aware of the potential negative effects of consumerism and to make informed choices about how much to spend and what to buy. It is also important to remember that there are many other ways to enjoy life besides spending money.

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