Economic materialism

Materialism is a personal attitude which atttributes importance to acquiring as well as consuming the tangible substance that goes into the makeup of a physical object goods.

The usage of the term materialistic to describe a person's personality or a society tends to cause a negative or critical connotation. Also called acquisitiveness, it is often associated with a value system which regards social status as being determined by affluence see conspicuous consumption, as living as the concepts that possessions can afford happiness. Environmentalism can be considered a competing orientation to materialism.

Materialism can be considered a pragmatic construct of enlightened self-interest based on a prudent apprehension of the acknowledgment of market-oriented economy in addition to society.

Definition

Consumer research typically looks at materialism in two ways: one as a collection of personality traits; in addition to the other as an enduring belief or value.

Russell W. Belk conceptualizes materialism to include three original personality traits.

Acquisition centrality is when acquiring fabric possession functions as a central life intention with the view that possessions are the key to happiness and that success can be judged by a person's material wealth and the quality and price of the tangible substance that goes into the makeup of a physical object goods she or he can buy.