Capitalism or consumerism Essay Example | Topics and Well Written Essays - 1500 words

Capitalism or consumerism - Essay Example Each has a responsibility to ensure advancement and profitability is not at the expense of our societal morality. Before delving more deeply into the issues involved a clear understanding of the principle doctrines surrounding the premise needs to be established. Capitalism is the economic base of a free society. The concept being that private or corporate ownership is a fundamental principal of it. The success or failure of the company is directly tied to the profitability of the entity. As profits increase, reinvestment is made leading to increased productivity and company wealth, within which context; capitalism naturally leads to a personal stake in the company, regardless of whether it is a privately owned company or a corporation. One’s livelihood is directly tied to its success or failure. When in a cultural climate such as this, success is often perceived as material acquisitions and possessions which may lead to devastating consequences. Too often when the goal becomes merely the ‘bottom line’ the path to achieve it becomes secondary and ethical improprieties become frighteningly commonplace. The second key term to define is consumerism. It appears an innocuous term initially. On the surface it is the societal fueling of capitalism. As the consumer buys, companies profit yielding gain and thereby there is further reinvestment of capital. This cyclic compliment of supply and demand defines the free market society. However, when looking deeper into the concept of consumerism it leads to the overwhelming need of the consumer to have, to possess, to buy – materialism supersedes actual need. This accepted reality of a capitalistic society results in the confusion of needs versus wants. How these two principles interact has become the center of much publicity. The ethics of American business and the public’s demand for materialistic gain comes to the forefront in the