Age of high mass consumption

Definition

The age of high mass consumption is the final stage in Rostow's model of economic development, characterized by a shift towards consumer goods and services as the primary focus of economic activity. In this phase, societies experience increased production levels and higher living standards, leading to a significant rise in consumer spending and a focus on individual needs and desires. This stage reflects a transition from industrial-based economies to those driven by consumption and service industries, indicating a mature economy.

5 Must Know Facts For Your Next Test

1. In the age of high mass consumption, economies focus on producing consumer goods that cater to the needs and wants of individuals, resulting in an increase in disposable income.
2. This stage leads to a greater emphasis on advertising and marketing strategies to promote consumer culture and encourage spending.
3. Economic policies during this phase often prioritize social welfare, public services, and infrastructure development to support a higher standard of living.
4. The rise of technology and innovation plays a crucial role in enhancing productivity, leading to more efficient production processes and the availability of a wider variety of products.
5. Countries in this stage often face challenges related to sustainability, as increased consumption can lead to resource depletion and environmental degradation.

Review Questions

• How does the age of high mass consumption relate to changes in societal values and priorities?
  • The age of high mass consumption marks a significant shift in societal values towards individualism and personal fulfillment. As economies mature, there's an increased focus on consumer goods that enhance quality of life, reflecting a desire for convenience and luxury. This transition influences cultural norms, where success is often measured by material wealth and lifestyle choices, fundamentally changing how societies define prosperity.
• Discuss the implications of transitioning from industrial production to consumer-driven economies during the age of high mass consumption.
  • Transitioning from industrial production to consumer-driven economies during this stage has profound implications. It results in a shift in labor markets, where service jobs outnumber manufacturing positions, leading to changes in workforce skills and training. Additionally, economies begin to prioritize innovation in marketing and distribution methods, affecting global trade patterns. This transition also raises concerns regarding income inequality as not all segments of society benefit equally from increased consumption opportunities.
• Evaluate the long-term effects of the age of high mass consumption on economic sustainability and environmental health.
  • The long-term effects of the age of high mass consumption on economic sustainability and environmental health are increasingly concerning. As consumer cultures promote higher levels of resource use and waste generation, ecosystems face significant pressure from over-extraction and pollution. This trend challenges the principles of sustainable development, as governments and organizations must reconcile growth with ecological stewardship. The reliance on continuous consumption demands innovative solutions for reducing environmental impacts while maintaining economic vitality, raising critical questions about future policies.

Related terms

Rostow's Stages of Economic Growth: A theory proposed by economist Walt Rostow that outlines five stages of economic development through which all countries progress.

consumerism: A social and economic order that encourages the acquisition of goods and services in ever-increasing amounts, often associated with the age of high mass consumption.

service economy: An economic system where the majority of employment and economic activity is centered around providing services rather than producing goods.