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Conspicuous Consumption in a Modern World

Sputnik International

Consumerism has put down roots in modern society, with conspicuous consumption dominating our lives. What makes us prey to the “bandwagon” effect, and what... 24.04.2015, Sputnik International

2015-04-24T13:00+0000

2015-04-24T13:14+0000

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Svetlana Ekimenko

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Conspicuous Consumption in a Modern World

13:00 GMT 24.04.2015 (Updated: 13:14 GMT 24.04.2015)

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Svetlana Ekimenko

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Victor Erofeyev

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Consumerism has put down roots in modern society, with conspicuous consumption dominating our lives. What makes us prey to the “bandwagon” effect, and what could be the practical benefits of escaping excessive consumerism in your life?

Status consumption is undoubtedly a sign of the times. What affects consumer behaviour? What are the practical benefits of escaping excessive consumerism?

In this edition of Looking Forward Svetlana Ekimenko and Victor Erofeyev are joined on the show by Peter Stearns, Professor of history at George Mason University and author of the book “Consumerism in world history: The global transformation of desire” to reflect on this phenomenon.