1992

Consumerism encourages the acquisition of goods and services in ever-increasing amounts. Following the industrial revolution, and particularly in the 20th century, mass production led to overproduction. The supply of goods grew beyond consumer demand, so manufacturers turned to planned obsolescence and advertising to manipulate consumer spending. In 1899, Thorstein Veblen's book on consumerism, "The Theory of the Leisure Class," examined the values and economic institutions which emerged as "leisure time" expanded in the late 19th century. In the book, Veblen "views the activities and spending habits of this leisure class in terms of conspicuous and vicarious consumption and waste. Both are related to the display of status and not to functionality or usefulness."