Economics for Kids - The Pros and Cons of Consumerism - Games, Activities, Free Use K-12 Lesson Plans for Teachers - FREE Lesson Plans, PowerPoints, Games, Activities (K-12)

For Kids:

There are many definitions of consumerism. Some are in conflict with each other.

What is Consumerism? Consumerism is an economic and social system that encourages the consumption of goods and services as a means of attaining well-being. It is the idea that increasing the consumption of goods and services purchased in the market is always a desirable goal, and that a person's well-being and happiness depend fundamentally on obtaining consumer goods and material possessions. (Investopedia)

What is Consumerism? Consumerism is an economic theory that consumer spending is the key to individual well-being and the most important factor driving a country's economic growth. Capitalist economies depend on the consumption of goods and services and encourage their populations to purchase beyond their basic needs to keep the economy thriving. (Masterclass Economics)

What is Consumerism? Consumerism refers to the tendency of people living in a capitalist economy to engage in a lifestyle of excessive materialism that revolves around reflexive, wasteful, or conspicuous over consumption. In this sense, consumerism is widely understood to contribute to the destruction of traditional values and ways of life, consumer exploitation by big business (buy, buy, buy, whether you can afford it or not), environmental degration (excessive trash, waste), and negative psychological effects. (Investopedia)

Pros and Cons of Consumerism: This short article offers a very clear look at what is consumerism and its various definitions. (Investopedia)

Possible Results of Consumerism:

Cons: The result of consumerism can be quite bad if you buy more than you can afford, generate lots of unnecessary waste, or define people's worth or your own worth by what they or you buy.
Pros: The result of consumerism can also be quite good if your purchases make you happy, harm no one, and keep the economy strong without causing you financial stress.