Consumerism and capitalism: dynamic evolution, economic benefits, and ethical challenges

Dumitru Alexandru Bodislav and Raluca Iuliana Georgescu
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Dumitru Alexandru Bodislav: Bucharest University of Economic Studies, Romania
Raluca Iuliana Georgescu: B & Associates, Romania

Theoretical and Applied Economics, 2025, vol. XXXII, issue 1(642), Spring, 251-266

Abstract: Consumerism and capitalism have played pivotal roles in shaping modern economies, driving industrialization, economic growth, and technological innovation. This paper examines the historical evolution of consumerism, from ancient trade economies to the industrial revolution and the rise of global consumer markets. It explores the symbiotic relationship between capitalism and consumer culture, highlighting both economic benefits – such as job creation, increased productivity, and social mobility – and ethical challenges, including environmental degradation, wage stagnation, and exploitative labour practices. The paper also discusses contemporary shifts in consumer behaviour, emphasizing ethical consumption, sustainability, and corporate responsibility. Ultimately, it argues for a balanced approach that preserves the economic advantages of consumerism while addressing its socio-environmental costs.

Keywords: capitalism; economic growth; technological evolution; globalization; consumerism. (search for similar items in EconPapers)
Date: 2025
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