The term “consumerism” refers to equating personal happiness with consumption and purchase of material possessions. The evolution of consumerism has fascinated social psychologists for quite some time now.
Consumerism relies on a different type of economyâ€”expanding across national boundaries. Countries like China and the United States, once in a bitter Cold War mentality, now have economic relations rivaling those of any political allies. The question is, whether the economy of a place influences an individual’s attitude and behavior regarding the roles of others in breaking down stereotypes; or do attitude and prejudice in an individual still exist as strongly? These are some of the areas social psychology will continue to investigate.