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<header class="mw-body-header vector-page-titlebar"> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Consumption (economics)</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. 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srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8f/John_Lancaster_Spalding.png/330px-John_Lancaster_Spalding.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8f/John_Lancaster_Spalding.png/440px-John_Lancaster_Spalding.png 2x" data-file-width="473" data-file-height="546" /></a><figcaption>It is the expensiveness of our pleasures that makes the world poor and keeps us poor in ourselves. If we could but learn to find enjoyment in the things of the mind, the economic problems would solve themselves.<br /><center>~ <a href="/wiki/John_Lancaster_Spalding" title="John Lancaster Spalding">John Lancaster Spalding</a></center></figcaption></figure> <p><b><a href="https://en.wikipedia.org/wiki/Consumption_(economics)" class="extiw" title="w:Consumption (economics)">Consumption</a></b> is the act of using resources to satisfy current needs and wants. It is seen in contrast to <a href="/wiki/Investing" class="mw-redirect" title="Investing">investing</a>, which is spending for acquisition of <i>future</i> income. Consumption is a major concept in <a href="/wiki/Economics" title="Economics">economics</a> and is also studied in many other <a href="/wiki/Social_sciences" class="mw-redirect" title="Social sciences">social sciences</a>. </p> <div role="navigation" style="margin-left: 2em;"> <p>Arranged alphabetically by author or source:<br /><a href="#A">A</a> · <a href="#B">B</a> · <a href="#C">C</a> · <a href="#D">D</a> · <a href="#E">E</a> · <a href="#F">F</a> · <a href="#G">G</a> · <a href="#H">H</a> · <a href="#I">I</a> · <a href="#J">J</a> · <a href="#K">K</a> · <a href="#L">L</a> · <a href="#M">M</a> · <a href="#N">N</a> · <a href="#O">O</a> · <a href="#P">P</a> · <a href="#Q">Q</a> · <a href="#R">R</a> · <a href="#S">S</a> · <a href="#T">T</a> · <a href="#U">U</a> · <a href="#V">V</a> · <a href="#W">W</a> · <a href="#X">X</a> · <a href="#Y">Y</a> · <a href="#Z">Z</a> · <a href="#See_also">See also</a> · <a href="#External_links">External links</a> </p> </div> <div class="mw-heading mw-heading2"><h2 id="B">B</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Consumption_(economics)&action=edit&section=1" title="Edit section: B"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>If we all took only what was necessary to satisfy our own needs, giving the rest to those who lack, no one would be rich, no one would be poor, and no one would be in need. <ul><li><a href="/wiki/Basil_of_Caesarea" title="Basil of Caesarea">Basil of Caesarea</a>, Homily 6, “I Shall Tear Down My Barns,” as translated by C. P. Schroeder in <i>Saint Basil on Social Justice</i> (2009), p. 69.</li></ul></li></ul> <ul><li>Some device has been concocted by the devil, suggesting innumerable spending opportunities to the wealthy, so that they pursue unnecessary and worthless things as if they were indispensable, and no amount is sufficient for the expenditures they contrive. <ul><li><a href="/wiki/Basil_of_Caesarea" title="Basil of Caesarea">Basil of Caesarea</a>, Homily 7, “To the Rich,” as translated by C. P. Schroeder in <i>Saint Basil on Social Justice</i> (2009), p. 44.</li></ul></li></ul> <ul><li>You should always adapt your consumption to your income — you shouldn't try and adjust your income to your consumption. That's a basic principle for individuals, businesses, and everything else. <ul><li><a href="/wiki/Warren_Buffett" title="Warren Buffett">Warren Buffett</a>, <cite style="font-style:normal"> (February 24, 2020)"<a rel="nofollow" class="external text" href="https://www.youtube.com/watch?v=JvEas_zZ4fM">Watch CNBC's full interview with Berkshire Hathaway's CEO Warren Buffett</a>". <i>CNBC Television, YouTube</i>.</cite> (quote at 27:43 of 2:00:57)</li></ul></li></ul> <div class="mw-heading mw-heading2"><h2 id="F">F</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Consumption_(economics)&action=edit&section=2" title="Edit section: F"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>Instead of resolving the problems of the poor and thinking of how the world can be different, some can only propose a reduction in the birth rate. ... To blame population growth instead of extreme and selective <a href="/wiki/Consumerism" title="Consumerism">consumerism</a> on the part of some, is one way of refusing to face the issues. It is an attempt to legitimize the present model of distribution, where a minority believes that it has the right to consume in a way which can never be <a href="/wiki/Categorical_imperative" title="Categorical imperative">universalized</a>, since the planet could not even contain the waste products of such consumption. <ul><li><a href="/wiki/Pope_Francis" title="Pope Francis">Pope Francis</a>, <i>Encyclical Letter </i><a href="https://en.wikipedia.org/wiki/Laudato_Si%27" class="extiw" title="w:Laudato Si'">Laudato Si</a><i> of the Holy Father Francis on Care for Our Common Home</i>, § 50, <a rel="nofollow" class="external text" href="http://w2.vatican.va/content/francesco/en/encyclicals/documents/papa-francesco_20150524_enciclica-laudato-si.html">May 24, 2015</a>.</li></ul></li></ul> <ul><li><p>Consumption is encouraged by government, business, and even our social leaders. It teaches children the wrong values, pollutes the environment, affects health and health costs, and ultimately life expectancy.</p><p>Most importantly, it distorts values and priorities. Unbridled consumption is not a virtue but a disease that should not be encouraged by our leaders. We must recognize that consumption alone is not a measure or standard of living or wellbeing, particularly if it pollutes the environment and affects health.</p> <ul><li><a href="/wiki/Ernst_G._Frankel" title="Ernst G. Frankel">Ernst G. Frankel</a>, <i>Survival and Revival of the American Dream</i> (2013), pp. <a rel="nofollow" class="external text" href="http://books.google.com/books?id=NaQWAgAAQBAJ&pg=PA34">33–34</a>.</li></ul></li></ul> <div class="mw-heading mw-heading2"><h2 id="I">I</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Consumption_(economics)&action=edit&section=3" title="Edit section: I"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>Why do you spend your money for that which is not bread, and your labor for that which does not satisfy? <ul><li><a href="/wiki/Book_of_Isaiah" title="Book of Isaiah">Isaiah</a> 55:2 (<a href="https://en.wikipedia.org/wiki/English_Standard_Version" class="extiw" title="w:English Standard Version">ESV</a>).</li></ul></li></ul> <div class="mw-heading mw-heading2"><h2 id="M">M</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Consumption_(economics)&action=edit&section=4" title="Edit section: M"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>People in eastern Congo are <a href="https://en.wikipedia.org/wiki/Mining_industry_of_the_Democratic_Republic_of_the_Congo#Socio-cultural_repercussions" class="extiw" title="w:Mining industry of the Democratic Republic of the Congo">massacred</a> to facilitate smart phone <a href="https://en.wikipedia.org/wiki/Planned_obsolescence#Programmed_obsolescence" class="extiw" title="w:Planned obsolescence">upgrades</a> of ever diminishing <a href="https://en.wikipedia.org/wiki/Marginal_utility" class="extiw" title="w:Marginal utility">marginal utility</a>. Forests are felled to make “personalised heart-shaped wooden cheese board sets”. Rivers are poisoned to manufacture talking fish. This is pathological consumption: a world-consuming epidemic of collective madness, rendered so normal by advertising and the media that we scarcely notice what has happened to us. <ul><li><a href="/wiki/George_Monbiot" title="George Monbiot">George Monbiot</a>, "The Gift of Death," <i>The Guardian</i>, <a rel="nofollow" class="external text" href="http://www.monbiot.com/2012/12/10/the-gift-of-death/">December 11, 2012</a></li></ul></li></ul> <div class="mw-heading mw-heading2"><h2 id="P">P</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Consumption_(economics)&action=edit&section=5" title="Edit section: P"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>When our pauper was rich, did he perform any of the useful social functions we've just mentioned simply by spending his money? Though he may have appeared to belong to the ruling class, surely in fact he was neither ruling, nor serving society in any other way; he was merely a consumer of goods. ... Don't you think we can fairly call him a <a href="https://en.wikipedia.org/wiki/Drone_(bee)" class="extiw" title="w:Drone (bee)">drone</a>? He grows up in his own home to be a plague to the community, just as a drone grows in its cell to be a plague to the hive. <ul><li><a href="/wiki/Plato" title="Plato">Plato</a>, <i>Republic</i> 552b, translated by Desmond Lee (Penguin: 1955), p. <a rel="nofollow" class="external text" href="http://books.google.com/books?id=v_BpLwLKFPsC&pg=PA286">286</a>.</li></ul></li></ul> <div class="mw-heading mw-heading2"><h2 id="S">S</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Consumption_(economics)&action=edit&section=6" title="Edit section: S"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>Since consumption is merely a means to human well-being, the aim should be to obtain the maximum of well-being with the minimum of consumption. <ul><li><a href="/wiki/E._F._Schumacher" title="E. F. Schumacher">E. F. Schumacher</a>, <i>Small is Beautiful: A Study of Economics As If People Mattered</i> (1973).</li></ul></li></ul> <ul><li>It is the expensiveness of our pleasures that makes the world poor and keeps us poor in ourselves. If we could but learn to find enjoyment in the things of the mind, the economic problems would solve themselves. <ul><li><a href="/wiki/John_Lancaster_Spalding" title="John Lancaster Spalding">John Lancaster Spalding</a>, <i>Aphorisms and Reflections</i> (1901).</li></ul></li></ul> <div class="mw-heading mw-heading2"><h2 id="V">V</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Consumption_(economics)&action=edit&section=7" title="Edit section: V"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>Leisure held the first place at the start, and came to hold a rank very much above wasteful consumption of goods. ... From that point onward, consumption has gained ground, until, at present, it unquestionably holds the primacy. <ul><li><a href="/wiki/Thorstein_Veblen" title="Thorstein Veblen">Thorstein Veblen</a>, <i>The Theory of the Leisure Class</i> (1899), p. 92.</li></ul></li></ul> <div class="mw-heading mw-heading2"><h2 id="W">W</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Consumption_(economics)&action=edit&section=8" title="Edit section: W"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>One of the strangest disparities of history lies between the sense of abundance felt by older and simpler societies and the sense of scarcity felt by the ostensibly richer societies of today. <a href="/wiki/Charles_P%C3%A9guy" title="Charles Péguy">Charles Péguy</a> has referred to modern man’s feeling of “slow economic strangulation,” his sense of never having enough to meet the requirement which his pattern of life imposes on him. Standards of consumption which he cannot meet, and which he does not need to meet, come virtually in the guise of duties. <ul><li><a href="/wiki/Richard_Weaver" title="Richard Weaver">Richard Weaver</a>, <i>Ideas Have Consequences</i> (Chicago: 1948), pp. 14-15</li></ul></li></ul> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Consumption_(economics)&action=edit&section=9" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Consumerism" title="Consumerism">Consumerism</a></li> <li><a href="/wiki/Demand" title="Demand">Demand</a></li> <li><a href="/wiki/Expense" title="Expense">Expense</a></li> <li><a href="/wiki/Extravagance" title="Extravagance">Extravagance</a></li> <li><a href="/wiki/Luxury" title="Luxury">Luxury</a></li> <li><a href="/wiki/Ostentation" title="Ostentation">Ostentation</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Consumption_(economics)&action=edit&section=10" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="noprint" style="clear: right; border: solid #aaa 1px; margin: 0 0 1em 1em; font-size: 90%; background: #f9f9f9; width: 250px; padding: 4px; spacing: 0px; text-align: left; float: right;"> <div style="float: left;"><figure class="mw-halign-none" typeof="mw:File"><a href="/wiki/File:Wikipedia-logo-v2.svg" class="mw-file-description" title="Wikipedia"><img alt="Wikipedia" src="//upload.wikimedia.org/wikipedia/commons/thumb/8/80/Wikipedia-logo-v2.svg/50px-Wikipedia-logo-v2.svg.png" decoding="async" width="50" height="46" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/80/Wikipedia-logo-v2.svg/75px-Wikipedia-logo-v2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/80/Wikipedia-logo-v2.svg/100px-Wikipedia-logo-v2.svg.png 2x" data-file-width="103" data-file-height="94" /></a><figcaption>Wikipedia</figcaption></figure></div> <div style="margin-left: 60px;"><a href="/wiki/Wikipedia" title="Wikipedia">Wikipedia</a> has an article about: <div style="margin-left: 10px;"><i><b><a href="https://en.wikipedia.org/wiki/Consumption_(economics)" class="extiw" title="wikipedia:Consumption (economics)">Consumption (economics)</a></b></i></div> </div> </div>    </div><noscript><img src="https://login.wikimedia.org/wiki/Special:CentralAutoLogin/start?type=1x1" alt="" width="1" height="1" style="border: none; position: absolute;"></noscript> <div class="printfooter" data-nosnippet="">Retrieved from "<a dir="ltr" href="https://en.wikiquote.org/w/index.php?title=Consumption_(economics)&oldid=3488981">https://en.wikiquote.org/w/index.php?title=Consumption_(economics)&oldid=3488981</a>"</div></div> <div id="catlinks" class="catlinks" data-mw="interface"><div id="mw-normal-catlinks" class="mw-normal-catlinks"><a href="/wiki/Special:Categories" title="Special:Categories">Category</a>: <ul><li><a href="/wiki/Category:Economics" title="Category:Economics">Economics</a></li></ul></div></div> </div> </main> </div> <div class="mw-footer-container"> <footer id="footer" class="mw-footer" > <ul id="footer-info"> <li id="footer-info-lastmod"> This page was last edited on 27 March 2024, at 18:37.</li> <li id="footer-info-copyright">Text is available under the <a rel="nofollow" class="external text" href="//creativecommons.org/licenses/by-sa/4.0/">Creative Commons Attribution-ShareAlike License</a>; additional terms may apply. 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