Quotes & Sayings About Economic Consumption

One of the big take-aways from a lot of economic theory is that people should engage in consumption smoothing. — Emily Oster

The conventional way of understanding taste, according to Distinction, is to view it as a capacity for aesthetic judgments in areas such as music, art, and literature. Though rarely made explicit, it is well understood that taste can be found only among the elite, and that the lower classes lack it. Bourdieu argues that it is imperative to break with this concept of taste and replace it with one that is sociological in nature. In order to do so, Bourdieu expands the concept of taste from including only "aesthetic consumption" to including "ordinary consumption," that is, the consumption of clothing, furniture, and food ([1979] 1986:100). He also extends the concept of taste to all social classes, and shows that what constitutes "good taste" is very much part of the struggle for domination in society. — Richard Swedberg

We can pay the ecological debt by changing economic models, and by giving up luxury consumption, setting aside selfishness and individualism, and thinking about the people and the planet Earth. — Evo Morales

The test of a progressive policy is not private but public, not just rising income and consumption for individuals, but widening the opportunities and what Amartya Sen calls the 'capabilities' of all through collective action. But that means, it must mean, public non-profit initiative, even if only in redistributing private accumulation. Public decisions aimed at collective social improvement from which all human lives should gain. That is the basis of progressive policy - not maximising economic growth and personal incomes. Nowhere will this be more important than in tackling the greatest problem facing us this century, the environmental crisis. Whatever ideological logo we choose for it, it will mean a major shift away from the free market and towards public action, a bigger shift than the British government has yet envisaged. And, given the acuteness of the economic crisis, probably a fairly rapid shift. Time is not on our side. — Eric Hobsbawm

To expect to increase prices and then to maintain them at a higher level by means of a plan which must of necessity increase production while decreasing consumption is to fly in the face of an economic law as well established as any law of nature. — Calvin Coolidge

Although population and consumption are societal issues, technology is the business of business. If economic activity must increase tenfold over what it is today to support a population nearly double its current size, then technology will have to reduce its impact twenty-fold merely to keep the planet at its current levels of environmental impact. For example, to stabilize the climate we may have to reduce real carbon emissions by as much as 80 percent, while simultaneously growing the world economy by an order of magnitude. — Stuart L. Hart

In economic terms, global warming is not merely an externality that we have failed to price in. The free market can only get us so far. This makes it a truly wicked problem, but it also gives us a more perfect moral clarity. We are not simply borrowing against our own future. For the most part, we are not our own victims. To rely on empathy to shape our response to climate change is often considered naive - the victims of warming are distant in space, distant in time, and the bullets are invisible - but I believe it is more naive to hope that we in the north will significantly cut emissions or consumption or give needed adaptation funding to distant countries because we personally feel threatened. In — McKenzie Funk

The unbearable silliness of English newspapers from about 1900 onward has had two main causes. One is that nearly the whole of the Press is in the hands of a few very big capitalists who are interested in the continuance of capitalism and therefore in preventing the public from learning to think; the other is that peacetime newspapers live off advertisements for consumption goods, building societies, cosmetics and the like, and are therfore interested in maintaining a "sunshine mentality" which will induce people to spend money. Optimism is good for trade, and more trade means more advertisements. Therefore, don't let people know the facts about the political and economic situation; divert their attention to giant pandas, channel swimmers, royal weddings and other soothing topics. — George Orwell

In the tradition of national income accounting, economic policymakers have typically focused on variables such as income, wealth, and consumption. — Ben Bernanke

But the more time has been released from production, the more imperative it has become to absorb that time in consumption and consumerism, given that, as was earlier argued, capitalist 'economic rationality has no room for authentically free time which neither produces nor consumes commercial wealth'. The ever-present danger is that freely associating and self-creating individuals, liberated from the chores of production and blessed with a whole range of labour-saving and time-saving technologies to aid their consumption, might start to build an alternative non-capitalistic world. They might become inclined to reject the dominant capitalist economic rationality, for example, and start evading its overwhelming but often cruel rules of time discipline. To avoid such eventualities, capital must not only find ways to absorb more and more goods and services through realisation but also somehow occupy the free time that the new technologies release. — David Harvey

this integration of Jefferson and Jesus is in many ways how members of the evangelical right can oppose abortion yet ignore the needs of disenfranchised members of society, how they can rage against sexual revolutions and offer little critique on economic greed or mass consumption, and how they can keep labor unions and government in check while not doing the same to Wall Street, insurance companies, and other big American businesses. Of course, much of today's evangelical political doctrine has become so radical, so driven by fear and hyperbole that it's more or less a parody of the doctrines of Thomas Jefferson and Jesus, a culture where the poor in spirit are not blessed, they are marginalized and expected to care for themselves. — Matthew Paul Turner

The process of consumption ... is the final act in the economic drama — Kenneth E. Boulding

A capitalist society requires a culture based on images. It needs to furnish vast amounts of entertainment in order to stimulate buying and anesthetise the injuries of class, race, and sex. And it needs to gather unlimited amounts of information, the better to exploit natural resources, increase productivity, keep order, make war, give jobs to bureaucrats. The camera's twin capacities, to subjectivise reality and to objectify it, ideally serve these needs as strengthen them. Cameras define reality in the two ways essential to the workings of an advanced industrial society: as a spectacle (for masses) and as an object of surveillance (for rulers). The production of images also furnishes a ruling ideology. Social change is replaced by a change in images. The freedom to consume a plurality of images and goods is equated with freedom itself. The narrowing of free political choice to free economic consumption requires the unlimited production and consumption of images. — Susan Sontag

Thus, consumption taxes tend to reduce conspicuous consumption and promote longer-term retirement security, family wealth, social welfare, technical progress, and economic growth. In essence, income taxes penalize people for what they contribute to society (labor and capital), whereas consumption taxes penalize people for what they take out of society (new retail purchases). So, to tax experts, it is no surprise that U.S. and U.K. citizens spend too much and don't save enough, relative to what would be optimal for society and even for themselves. — Geoffrey Miller

The analysis of our illustrations has taught us another incidental lesson. This is that, when we study the effects of various proposals, not merely on special groups in the short run, but on all groups in the long run, the conclusions we arrive at usually correspond with those of unsophisticated common sense. It would not occur to anyone unacquainted with the prevailing economic half-literacy that it is good to have windows broken and cities destroyed; that it is anything but waste to create needless public projects; that it is dangerous to let idle hordes of men return to work; that machines which increase the production of wealth and economize human effort are to be dreaded; that obstructions to free production and free consumption increase wealth; that a nation grows richer by forcing other nations to take its goods for less than they cost to produce; that saving is stupid or wicked and that squandering brings prosperity. — Henry Hazlitt

It turns out that globalisation, while promising sameness through brand-name consumption, was fostering, through uneven economic growth, an intense feeling of difference. — Pankaj Mishra

Living in an orgy of unrestrained consumption and economic growth accompanied by population expansion that ignores the carrying capacity of local environments will lead to disaster — Phil Harding

Inappropriate macro economic policies in some economies, characterised by [a] low savings rate and high consumption [and] failure of financial supervision and regulation to keep up with innovation which allowed financial derivatives to spread. — Wen Jiabao

As Christians learn how self-styled Jews have spent millions of dollars to manufacture the 'Jewish myth' for Christian consumption and that they have done this for economic and political advantage, you will see a tremendous explosion against the Jews. Right thinking Jewish leaders are worried about this, since they see it coming. — Benjamin H. Freedman

The worldwide financial and economic crisis seems to highlight their distortions and above all the gravely deficient human perspective, which reduces man to one of his needs alone, namely, consumption. Worse yet, human beings themselves are nowadays considered as consumer goods which can be used and thrown away. — Pope Francis

The lower interest rates fueled housing and consumption booms in countries such as Spain and Ireland. At the same time, Germany, struggling with the burdens of reunification, tightened its belt and became more competitive. All this led to a wide divergence in economic performance. Europe became divided into creditor and debtor countries. — George Soros

But public works, economic protectionism, cheap money, 'deficit-financed government spending,' and 'the animal spirits of the spendthrift' in the service of boosting 'consumption demand' ... Doesn't Keynesianism simply appeal to the worst in human nature? — Ilana Mercer

Daily life is governed by an economic system in which the production and consumption of insults tends to balance out. — Raoul Vaneigem

Apart from their work and production, households perform other important economic functions. Most CONSUMPTION occurs within the household ... In developed capitalist economies, private consumption spending accounts for half or more of GDP. — Jim Stanford

I think we have reached a stage now where we need to find solutions to economic injustice in the same place and in the same ways that we find solutions to sustainability. Sustainability on environmental grounds and justice in terms of everyone having a place in the production and consumption system - these are two aspects of the same issue. They have been artificially separated and have to be put back again in the Western way of thinking. — Vandana Shiva

Modern technology easily becomes the servant of this or that want and need. In modern economy, a completely irrational consumption conforms to a totally rationalized production. A marvelously rational mechanism serves one or another demand, always with the same earnestness and precision, be it for a silk blouse or poison gas or anything whatsoever. Economic rationalism has accustomed itself to deal only with certain needs and to acknowledge only those it can "satisfy." In the modern metropolis, it has erected an edifice wherein everything runs strictly according to plan - everything is calculable. A devout Catholic, precisely following his own rationality, might well be horrified by this system of irresistible materiality. — Carl Schmitt

Places matter. Their rules, their scale, their design include or exclude civil society, pedestrianism, equality, diversity (economic and otherwise), understanding of where water comes from and garbage goes, consumption or conservation. They map our lives. — Rebecca Solnit

The phenomenon of money presupposes an economic order in which production is based on division of labour and in which private property consists not only in goods of the first order (consumption goods), but also in goods of higher orders (production goods). In such a society, there is no systematic centralized control of production, for this is inconceivable without centralized disposal over the means of production. — Ludwig Von Mises

Even if we could grow our way out of the crisis and delay the inevitable and painful reconciliation of virtual and real wealth, there is the question of whether this would be a wise thing to do. Marginal costs of additional growth in rich countries, such as global warming, biodiversity loss and roadways choked with cars, now likely exceed marginal benefits of a little extra consumption. The end result is that promoting further economic growth makes us poorer, not richer. — Herman E. Daly

The industrial civilisation is based on the consumption of energy resources that are inherently limited in quantity and that are about to become scarce. When they do, competition for what remains will trigger dramatic economic and geopolitical events; in the end, it may be impossible for even a single nation to sustain industrialism as we have know it in the twentieth century. — Richard Heinberg

In those days, Doc Susie used medications interchangeably between humans and animals. That was before pharmaceutical houses discovered a fundamental economic principle. Label a medication for human consumption, and a higher price could be charged. — Virginia Cornell

We don't think a sustainable society need be stagnant, boring, uniform, or rigid. It need not be, and probably could not be, centrally controlled or authoritarian. It could be a world that has the time, the resources, and the will to correct its mistakes, to innovate, to preserve the fertility of its planetary ecosystems. It could focus on mindfully increasing quality of life rather than on mindlessly expanding material consumption and the physical capital stock. — Donella H. Meadows

I shall argue that it is the capital stock from which we derive satisfaction, not from the additions to it (production) or the subtractions from it (consumption): that consumption, far from being a desideratum, is a deplorable property of the capital stock which necessitates the equally deplorable activity of production: and that the objective of economic policy should not be to maximize consumption or production, but rather to minimize it, i.e. to enable us to maintain our capital stock with as little consumption or production as possible. — Kenneth E. Boulding

In this manner, in early days, were formed those vast and prodigious layers of coal, which an ever - increasing consumption must utterly use up in about three centuries more, if people do not find some more economic light than gas, and some cheaper motive power than steam. All — Jules Verne

Quite a few people still listen to vinyl records, use film cameras to take photographs, and look up phone numbers in the printed Yellow Pages. But the old technologies lose their economic and cultural force. They become progress's dead ends. It's the new technologies that govern production and consumption, that guide people's behavior and shape their perceptions. That's why the future of knowledge and culture no longer lies in books or newspapers or TV shows or radio programs or records or CDs. It lies in digital files shot through our universal medium at the speed of light. — Nicholas Carr

The economic and marketing forces of modern society have engineered an environment ... that maximize[s] consumption at the long-term cost of well-being, — Sebastian Junger

The effect of the post-Enlightenment project for human society is that all human activity is absorbed into labor. It becomes an unending cycle of production for the sake of consumption. The modern concept of "built-in obsolescence" makes this clear. The cycle of production and consumption has to be kept going, and the work of the artist or craftsman who aims to create something enduring becomes marginal to the economic order. — Lesslie Newbigin

By claiming to be something more than the economic, the political is obliged to base itself on categories other than production and consumption. To repeat: it is curious that the capitalist entrepreneur and the socialist proletarian are of one accord in considering the political's assumption a presumption and, from the standpoint of their economic thinking, regarding the dominance of politicians as immaterial. — Carl Schmitt

This heated (environmental) debate is fundamentally about numbers. How much energy could each source deliver, at what economic and social cost, and with what risks? But actual numbers are rarely mentioned. In public debates, people just say "Nuclear is a money pit" or "We have a huge amount of wave and wind." The trouble with this sort of language is that it's not sufficient to know that something is huge: we need to know how the one "huge" compares with another "huge," namely our huge energy consumption. To make this comparison, we need numbers, not adjectives. — David Mackay

Instead of engaging in cutthroat competition, we should strive to create value. In economic terms, this means a transition from a consumer economy - the mad rush for ownership and consumption - to a constructive economy where all human beings can participate in the act of creating lasting worth. — Daisaku Ikeda

Many of those who possess more resources and economic or political power seem mostly to be concerned with masking the problems or concealing their symptoms, simply making efforts to reduce some of the negative impacts of climate change. However, many of these symptoms indicate that such effects will continue to worsen if we continue with current models of production and consumption. — Anonymous

Byproduct of the circulation of commodities, human circulation considered as a form of consumption, tourism comes down fundamentally to the freedom to go and see what has become banal. The economic planning of the frequenting of different places is already in itself the guarantee of their equivalence. The same modernization that has withdrawn the element of time from journeying, has also withdrawn the reality of space. — Tom McDonough

The societies of consumption and squandering of material resources are incompatible with the idea of economic growth and a clean planet. — Fidel Castro

The system of economic production depended on the consumption of every conceivable kind of goods by everyone - consumption of entirely unnecessary objects, food, drink, clothes, gadgets, devices. Every person in the Northwest Fringes - as in the Isolated Northern Continent - was subjected, every moment of every day, through propaganda methods more powerful than any ever known before, to the need to buy, consume, waste, destroy, throw away - and this at a time when the globe as a whole was already short of goods of every kind and the majority of Shikasta's people starved and went without. — Doris Lessing

The promoters of the global economy ... see nothing odd or difficult about unlimited economic growth or unlimited consumption in a limited world. — Wendell Berry

We can easily imagine a monetary organization which, by the exclusive use of notes or clearing-house methods, allows all transfers to be made with the instrumentality of sums of money that never change their position in space.
If differences due to the geographical position of money are disregarded in this way, we get the following law for the exchange-ratio between money and other economic goods: every economic good, that is ready for consumption (in the sense in which that phrase is usually understood in commerce and technology), has a subjective use-value qua consumption good at the place where it is and qua production good at those places to which it may be brought for consumption. — Ludwig Von Mises

While much of postmodernist analysis should be credited with theoretical imagination, as well as talent for capturing something of the Zeitgeist, this type of analysis nonetheless misses some crucial facts about consumption: that consumption is vitally linked to production; consumption is anchored in concrete relations; and the driving force in consumption is individual interest, as encouraged and often shaped by profit interests. — Richard Swedberg