Midterm 2 Flashcards
(239 cards)
What is “consumption”?
The way we purchase and use goods and services
What is Marx’s “means of productions”?
The main social needs needed for producing wealth
What is the “means of consumption”?
The main social means by which people consume what is produced
What is “production-based societies”?
A society where people are defined by their work, specifically in providing products/services
What is a “consumption-based society”?
A society where people are defiend by their purchasing practices and how they spend their free time
What is “identity formation”?
The process by which an individual develops their unique self, only after acquiring self-ascribed labels (ex. musician, college professor)
What are the four main points of Thornstein Veblen’s consumption theory?
- Consumption helps the economy (encourages businesses, creates jobs etc.)
- “conspicuous consumption” are used to “fit in”
- Material objects are used as “status symbols”
- Pecuniary emulation is engaged in.
What is “conspicuous consumption”?
The consumption of goods primarily for the effect of demonstrating wealth and status.
What are “status symbols”?
Items that show off a person’s wealth and social standing.
What is “pecuniary emulation”?
Copying the expensive spending habits of the wealthy, regardless if one can afford it or not. (keeping up with the Joneses)
What are two reasons why one might engage in conspicuous consumption?
- To show off status and wealth
2. To fit in with the “crowd”
What are several problems with practicing conspicuous consumerism?
- Increases personal debt
- Consumption is used as control
- Consumption viewed as a method of fulfillment and happiness
- Consumption displays inequality
- Encourages waste and superficial values
- An economy that relies on conspicuous consumerism is not stable (companies first to go down in bad economic times)
What is Pierre Bourdieu’s take on consumption?
- How we present our “tastes” and how we consume reflect our cultural capital and our status.
- Taste and things consumed are class specific
- Social capital (networking, important people you know)
What is Jean Baudrillard’s theory of consumption?
Objects have four different types of values:
- Use value (what it is made for)
- Exchange value (monetary cost/selling cost)
- Symbolic value (the sentimental importance)
- Sign value (what it says about the owner)
What is “simulcra”?
Superficial representations of life/stereotypes that are reproduced as like material goods and commodities. (ex. Disney princesses)
What is “hyperreal”?
Mediated representations of real life that people view as more real than to reality.
What is Jean Baudrillard’s notion of simulcra and hyperreal?
By consuming simulcra, we consume the hyperreal.
Advertisement also promotes consumption by making hyperreal worlds that consumers want to be a part of.
What is “affluence”?
A large disposable income.
What is “disposable income”?
Money left over after you pay for living expenses and necessities and tax.
What does the “affluence hypothesis” state?
The belief that in times of economic prosperity, people will take greater interest in social issues and will result in purchasing decisions that are more socially responsible.
What are some problems with the affluence hypothesis?
- Difficult to determine if the majority of the citizens are affluent
- Affluence can be determined by the highly visible and influential minority (ex. movie stars)
- The affluence may hide a load of debt
What are “cathedrals of consumption”?
Huge constructions primarily built for people to practice consumption (ex. shopping malls)
What is “debt-to-income ratio”?
Measure of total household debt to the total household income after tax. (expressed as %)
What is the ideal debt-to-income ratio?
Less than 100%