It is widely believed that consumerism is vital for the economic well-being of a country. However others feel that consumerism has unacceptable social consequences on a society. Discuss both these views and give your own opinion.

The approach of the customer-centric market has widely gained popularity over the

last

decade. Some people believe that

consumerism

is important for the financial well-being of nations whereas others are of the opinion that it has undesirable consequences. In

this

essay, I will discuss both views and explain why

consumerism

works only in theory and not in the application as it can lead to unemployment and failed small

businesses

.

To begin

, clients were unhappy with the way the market was regulated so regular products were overpriced for the value they offer and

consumerism

is a step in the right direction.

For instance

, cellphone plans that were worth $40 before are now $20 as regulated by law.

This

in turn means that the citizens are getting everyday use products at the most reasonable price. The less the citizens spend on necessities, the more the wealthier they are in contributing to the effective functioning of the economy.

Furthermore

,

however

,

this

means that small

businesses

and some major corporations will most likely be unable to stay competitive in the market while being able to retain their employees which results in cutting jobs. Unemployment and failure of small

businesses

are some of the major disadvantages as a direct result of

consumerism

.

Hence

, the higher the unemployment rate, the worse the economy is.

Finally

, to conclude, while I believe that

consumerism

has the right idea in helping with curbing the exploitation of the general public, it causes more problems than it solves as the loss of jobs and negative impacts on the small

businesses

hit the economy directly.