Rampant Consumerism Essay

309 Words2 Pages
Almost 95% of the countries in the world have their economy based on the capitalist system, which prioritizes the high-growth profits instead of stability. The success of this system is directly related to a continuous consumption of the society. But due to a series of short-term actions of governments and companies, to accelerate their growth over other nations and/or competitors, consumers were led to the called rampant consumerism, which was one of the greatest causes of the crisis. Making some short-term sacrifices towards profits in benefit of a more sustainable growth maybe the light to this darkness. It is fact that companies do everything to sell their products; they invest a massive amount of money in advertisement to increase their revenue and profits. Additional fact is that the governments, to incentive consumption, have been always creating credit tools, putting the interest rates at low levels. All those efforts to boost sales, maximize profits and grow countries GDP also had a side effect. Most people didn’t know how to buy and use their credit, letting the debt grow to an uncontrollable way, resulting in the crisis. Therefore a big change of mindset must happen among the current system. It has been seen that it is not possible to grow at incredible levels forever. The government and the banks shall create tools to control consumption, a stricter credit lending to control the hazards of the rampant consumerism, resulting on a sustainable model. And the companies shall review their growth projections, accepting lower and steady profits. Analyzing all the above mentioned, it can be concluded that governments, financial institutions, companies and even the consumer had played a role at the crisis culmination. The solution will depend on a big mindset change of the free capitalism dream. A bird in the hand is worth two in the

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