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7) Evaluate whether the economic theory of consumerism is ill suited for the human race?(250 words)

Topic – Determinants and consequences of Ethics in human actions

7) Evaluate whether the economic theory of consumerism is ill suited for the human race?(250 words)

Financial express

Why this question

Off late, we have seen that the world is suffering from a multitude of problems ranging from environmental degradation to racial tensions to social inequality. The article discusses the links between a materialistic outlook and these issues.

Key demand of the question

The question expects us to explain what consumerism is and highlight the implications of blindly adopting such an outlook. We need to discuss the views of important scholars who have highlighted the perils of excessive materialism and give our opinion on consumerism and its impacts.

Directive word

Evaluate – When you are asked to evaluate, you have to pass a sound judgement about the truth of the given statement in the question or the topic based on evidences.  You have to appraise the worth of the statement in question. There is scope for forming a personal opinion here.

Structure of the answer

Introduction – Explain what consumerism is and how it differs from capitalism.

Body – Discuss the social (lack of empathy, inequality), economic(positive impact of consumerism as it is the driver of business), political (colonization etc), cultural (how it has affected music, art), environmental and ethical impact of consumerism. Highlight the view of thinkers such as Gandhi who have held strong views against consumerism.

Conclusion – Give your opinion on the impacts of consumerism and the nature of change (if you think there should be) that is required in our mindset.