Today's society is a consumer society. What does this mean? What problems can arise? How can society and /or goverments deal with these problems? (more than 800 words)
Today's society is a consumer society. What problems can arise? [help to start]
I do not believe the mods here will write you a full answer to your prompt (just read the rules), but I will give you some ideas. Also, these ideas are assuming by "society" the prompt refers to the American economic system.
A "Consumer Society" in America is another way of saying Free Market and balanced capitalism. That means the economy relies on people buying domestic goods. Laissez-faire capitalism excludes government control and social capitalism includes it. The US has both for different industries and businesses, which rises a political debate. Because the American economy requires consumer participation, it is often called a "Self Fulfilling Economy" because it will maintain itself as long as people are buying domestically, be it goods, shares, or even putting money in a bank instead of in Switzerland or under your bed. Of course, this is also why the economy continues to fail. Many Americans do not trust the economy and therefore do not invest or buy, instead they save up money under their bed or in foreign locations. There is your problem: lack of trust in the system. How do you fix it? Well, technically its fixed by getting people to buy stuff and invest. How to do that, however, is theory, and what economists work at today.
A "Consumer Society" in America is another way of saying Free Market and balanced capitalism. That means the economy relies on people buying domestic goods. Laissez-faire capitalism excludes government control and social capitalism includes it. The US has both for different industries and businesses, which rises a political debate. Because the American economy requires consumer participation, it is often called a "Self Fulfilling Economy" because it will maintain itself as long as people are buying domestically, be it goods, shares, or even putting money in a bank instead of in Switzerland or under your bed. Of course, this is also why the economy continues to fail. Many Americans do not trust the economy and therefore do not invest or buy, instead they save up money under their bed or in foreign locations. There is your problem: lack of trust in the system. How do you fix it? Well, technically its fixed by getting people to buy stuff and invest. How to do that, however, is theory, and what economists work at today.
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