Nowadays, consumer goods have gained significant importance in our lives. People these days seem to be more concerned with the kind of products they own. However: this has a multitude of benefits to the Community, but drawbacks are no less painful. In the following paragraphs, I shall discuss both sides of this emerging trend.
One of the primary advantages of consumerism is that it boosts the economy of a nation. The rising demand for physical goods will ultimately create new jobs in society. For instance, the Apple manufacturing facilities in China employ thousands of low-skilled or semi-skilled workers who would otherwise struggle in poverty. Also, consumer gadgets have made doing business much easier. The availability of smartphones and computers has started revolutionary business models such as Amazon and Flipkart, which are meant to connect consumers and businesses alike.
However: The advent of materialism has bought with it certain downsides, though. The traditional values are generally being eroded as people strive to purchase more and more things. For example, according to a recent survey by the University of Toronto, people spend 65% less time with their elders than they did just five years ago after the invention of Facebook. Above all, this desire to have more and more products on the shelves has increased debt levels in society to dangerous levels. Repayments, bank interest rates and late payment penalties altogether put inevitable stress on an individual and negatively impact his health.
In conclusion, I would like to reiterate that however consumerism gives birth to robust economies around the world, it is also challenging the core structure of society. The time has come to understand what we are trading off for the sake of excessive consumerism.
Nowadays, consumer
goods
have gained significant importance in our
lives
.
People
these days seem to be more concerned with the kind of products they
own
.
However
: this has a multitude of benefits to the Community,
but
drawbacks are no less painful. In the following paragraphs, I shall discuss both sides of this emerging trend.
One of the primary advantages of consumerism is that it boosts the economy of a nation. The rising demand for physical
goods
will
ultimately
create new jobs in society.
For instance
, the Apple manufacturing facilities in China employ thousands of low-skilled or semi-skilled workers who would
otherwise
struggle in poverty.
Also
, consumer gadgets have made doing business much easier. The availability of smartphones and computers has
started
revolutionary business models such as Amazon and Flipkart, which
are meant
to connect consumers and businesses alike.
However
: The advent of materialism has
bought
with it certain downsides, though. The traditional values are
generally
being eroded
as
people
strive to
purchase
more and more things.
For example
, according to a recent survey by the University of Toronto,
people
spend 65% less time with their elders than they did
just
five years ago after the invention of Facebook.
Above all
, this desire to have more and more products on the shelves has increased debt levels in society to
dangerous
levels. Repayments, bank interest rates and late payment penalties altogether put inevitable
stress
on an individual and
negatively
impact his health.
In conclusion
, I would like to reiterate that
however
consumerism gives birth to robust economies around the world, it is
also
challenging the core structure of society. The time has
come
to understand what we are trading off for the sake of excessive consumerism.