Nowadays people throw away old things and adapt new things. Do the disadvantages of throwaway society outweigh any possible economic advantage?

Recently the rapid growth in demand for new products, consumerism, is evident and whether it is beneficial or not has been argued by many economists.

This

phenomenon has bolstered profit in many local and global businesses as well as provided the community with many jobs indirectly. Even though some demerits have followed,

such

as a sharp increase in waste production and depletion especially in non-renewable resources, I have to disagree with the statement, since in my opinion, the benefits outweigh the disadvantages.

Firstly

, consumerism is the crucial factor for a prosperous society. The higher demand for products means more companies and manufacturers would have to produce.

Consequently

, more people would be hired by them which means less unemployed population. As result, even more, would be enabled to provide for their families.

Conversely

, the lack of interest in products could lead to an unfortunate chain of events.

For instance

, as you may know, the 2007-2009 economy crisis had happened prior to the 2020-Covid19 recession.

Subsequently

, many have lost their jobs, and after that, most businesses collapsed.

Thus

, we can deduct that consumerism can be considered a beneficial phenomenon.

Secondly

, as the purchases increase, as mentioned above, new businesses appear.

Therefore

, in order to strive in the market, they would have to invest in increasing their qualities. Due to the fact that

this

would require them to either use higher quality materials or utilize better technologies. In order for the latter to take action, innovations and researches would need to take place. Inevitably, these innovations would lead to

further

expansions in our horizons and

as a result

, we would reach a higher advanced civilization. In conclusion,

although

this

phenomenon would cause conundrums,

for example

, the pollution or earth, which is detrimental to our environment, in my opinion, its merits are far more beneficial and would flourish our community and society.