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We Need to Stop Wasting Our Money On Things We Don’t Need
How hyper-consumerism hurts the planet and society
It’s November, and there sure are no shortages of shopping events — with Black Friday in the U.S. on November 29th this year, and Singles’ Day in China on November 11th — consumers are set to spend more than $45 billion in total. With China’s average urban household disposable income at an all time high, rising 6.5% per capita in 2018, and U.S. households facing a 0.4% rise in 2019, hyper-consumerism is more prevalent than ever.
Hyper-consumerism refers to the consumption of goods for non-functional purposes and the associated pressure to consume those goods exerted by the modern, capitalist society, as those goods shape one’s identity.
Whilst these numbers may be a good sign of economic growth, in reality, they are quite worrying. Here are some reasons why.
Environmental Damage
This year, Singles’ Day in China created over 300,000 tonnes of waste packaging in just 24 hours. According to Reuters, the volume of packaging is on course to reach a total of 41.3 million tonnes by 2025, generating more and more waste…
