America has become a consumer culture. Do you agree or disagree - 275 Words

America has become a consumer culture. Do you agree or disagree? (Essay Sample) Content: America has become a consumer culture. Do you agree or disagree? (Authorà ¢Ã¢â€š ¬Ã¢â€ž ¢s Name) (Institutional Affiliation) America Consumerism Consumer culture is a form of capitalism whereby the economy is focused on the selling of consumer goods and the spending of consumer money (Thompson, n.d.). The social status, activities, and values in a consumer culture are fixated on the consumption of goods and services. America is no longer the economic powerhouse it was a few centuries ago. The 21st century has witnessed the emergence of China and India as economic giants (Smart, 2010). Americaà ¢Ã¢â€š ¬Ã¢â€ž ¢s manufacturing is no longer the driving force of the economy, and there is substantial evidence that classifies America as a consumer-driven economy. Consumer spending constitutes the largest part of the American economy. In 2006 alone, consumer purchases accounted for 70% of the United Statesà ¢Ã¢â€š ¬Ã¢â€ž ¢ gross domestic product (GDP). The closest country was the UK whereby users accounted for 61% GDP followed by Italy with 59% (Smart, 2010). Once a leader in exporting manufactured goods, America has increasingly become an importer and a à ¢Ã¢â€š ¬Ã‹Å"nation of shoppersà ¢Ã¢â€š ¬Ã¢â€ž ¢. Most of Americaà ¢Ã¢â€š ¬Ã¢â€ž ¢s products are predominantly produced overseas, many of which are outsourced by American corporations. Americaà ¢Ã¢â€š ¬Ã¢â€ž ¢s consumer culture is responsible for the rising personal debts. According to Tepper (2015), household debt has grown 15% faster than income over the past 12 years. Statistics estimate the average household credit card debt at $7281 and the average outstanding balance at $15609 (Johnson, 2015). The numbers are a testimony that American consumers are taking more debts, which in turn is a revelation that they are spending more. Due to the emphasis placed on happiness brought about by material things by consumer culture, peopl...