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English definition of “consumerism”

consumerism

noun [U]     /kənˈsjuːmərɪzəm/
ECONOMICS a situation involving large amounts of goods being sold to individuals rather than businesses, especially when this is very important to an economy: State boundaries matter little in an age of global consumerism and investment. More and more people are convinced of the importance of ethical and green consumerism.
often disapproving the situation when too much attention is given to buying and owning things, often things that are not really necessary: Uncontrollable consumerism has become a watchword of our culture despite regular and compelling calls for its end. Bottled water very clearly reflects the wasteful and reckless consumerism in this country.
SOCIAL RESPONSIBILITY the protection of customers from dishonest business activities and advertising, from unsafe products, etc.: In a competitive market consumerism can be in the interest of sellers as well as buyers, if it is made into an effective selling point.
(Definition of consumerism noun from the Cambridge Business English Dictionary © Cambridge University Press)
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