From Consumption to Creation - a guide
Consumption
In a market-driven economy, often found in western cultures, private enterprises and individuals play a significate role in the economic activities. The advantage of this type of economy is that it fosters competition and innovation, leading to the development and marketing of a wide range of products and services. However, it also leads to social norms which often encourage the pursuit of a lifestyle associated with material wealth.
Consumerism refers to a social and economic order that encourages the acquisition and consumption of goods and services. It is characterized by the emphasis on material possessions, often driven by the belief that personal well-being and happiness can be achieved through the continuous acquisition of goods. Businesses use sophisticated strategies to create and stimulate consumer demand, encouraging individuals to purchase goods and services.
Consumerism is at the core of the success of a market-driven economy.
It leads to many benefits in a economy, such as economic growth, innovation and individual well-being, but also has it’s downsides:
Environmental Impact: Excessive consumption, especially of non-renewable resources and products with a significant carbon footprint, can contribute to environmental degradation, climate change, and resource depletion. Overconsumption can lead to increased waste generation and pollution.
Resource Depletion: Consuming resources at an unsustainable rate can lead to the depletion of natural resources, such as minerals, water, and fossil fuels. This can have long-term consequences for ecosystems and biodiversity.
Social Inequality: In some cases, conspicuous consumption and materialism can exacerbate social inequalities. The pursuit of material wealth and possessions may contribute to a culture of inequality, where disparities in wealth and access to resources become more pronounced.
Financial Strain: Personal or societal overconsumption can lead to financial strain at both individual and macroeconomic levels. Overspending and accumulating debt can have detrimental effects on personal well-being and economic stability.
Psychological Impact: The constant pressure to consume and keep up with societal expectations can contribute to stress, anxiety, and a sense of inadequacy. The pursuit of material possessions as a measure of success may not necessarily lead to lasting happiness or fulfillment.
Anyone who creates something in a market-driven economy, wants to increase the consumption of others. The key is to strike a balance between meeting essential needs and maintaining a healthy, sustainable relationship with the planet and its resources.
In order to increase the consumption (and in turn increase their own sales), companies and individuals fight for your attention to encourage you to purchase their goods or services. Now-a-days your attention is efficiently gained through “social” media, and products are advertised in many forms within the content you consume.
Consumption starts with you.
(You) Attention —> Engagement —> Consumption —> Profit (company)
Intemperance - lack of moderation or self-restraint
If you don’t have the attention to engage with a good or service, you won’t consume it either. Companies strive to make the step to consumption as easy as possible, so you don’t have to spend much attention in making the decision. How companies influence you to buy their products is something we will discuss in a separate blog.
Creation
As discussed, the market-economy leads to many benefits in the economy as well. The non-economic benefits come from creating and consuming the things that help society. These are the things that make people live a happier, healthier and more fulfilling life.
If you really want to take advantage of the economy we live in, you should prioritize creation over consumption and only consume to create.
Creation can mean many things; creating memories, knowledge, serving others or a product.
How do you decide what to create?
If only it were as easy as deciding what to consume, right? Actually, it is. By analyzing what you consume, and why you consume it, you can discover where your interests lie and make a plan to become a creator in that space. Say, for example, you notice that influencers on interior design always keep you engaged, and you purchase products which are marketed to you through life style marketing about designing your home. You have then identified the field which you are interested in. The next step is to start creating, and the most important aspect here is to start.
Do you know what Netflix, AMEX, Amazon, Play-dough, Youtube and Lego all have in common? They, amoung many other companies, have completly reinvented their business after launching their initial product or service.
Stop theorizing what you would do and how you would do it. Start doing something in the field you are interested in, as you can always re-structure and re-use what you have created. Even if you fail, you can learn from what you have done, which is much better than just consuming without creation.
Exercise: You’re a fly on the wall at your own funeral. What do you imagine/hope people will be saying about the things you have created?
How to overcome the challenge
The biggest difference between choosing to consume or create is that consumption is inherently made easy, while creation requires you to be proactive.
Focus has become an increasingly valuable skill as it prevents you from getting distracted by all the outside forces seeking your attention.
Be aware of your biases when purchasing
Put in effort to make your items last
If you purchase products, aim for those that will last
Social media companies enable users to create content, where the most engaging content will thrive as this allows the company to sell advertising spots.
