Maslow’s pyramid of needs is a hierarchy that describes the needs of a person. At the bottom of the pyramid, we have the fundamental needs to survive.
Food, water, shelter, etc. If we climb a bit higher, we have safety needs and love and belongings. Here we have personal security, health, friendships and intimacy, etc.
At the very top of the pyramid, we have Esteem and self-actualization. These two are special compared to the first three since they can never be fully satisfied.
No matter how many goods you purchase to fulfill your desires, you will always want more. I believe this is the key element to the consumerism we see deeply rooted in our modern way of living.
So, what is consumerism? Consumerism refers to the tendency that most people in developed countries are living in a capitalist economy fueled by the idea that consumption of material goods purchased in the market is a key element in a person’s wellbeing and overall happiness.