Tuesday, November 5, 2024

Psychological Economy

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By Eman Taher


Let us examine the history of consumer capitalism globally from the point of view of psychologists. Psychologists say that consumer capitalism is actually an economic case where certain tactics are employed in order to increase consumerism. These tactics are promotions, special offers that trigger the consumer to consume more products to benefit the vendor and the international markets.

During the 50s the United States used the research conducted by the famous psychologist Edward Bernays, referred to as the father of Public relations, in order to increase consumerism. His studies have been employed in order mobilize consumers to buy products, as cigarettes and soap and many others. Another psychologist is Alfred Solan, whose studies and research have been intensively employed to increase purchase for general motors company.

All these tactics and advertising campaigns, affected the consumers and pushed them to consume products in such a hysterical way in order to support the international economy of certain countries or the economy of countries to which they have a sense of belonging.

Several studies have been conducted on over consumption or what we can call (hysterical consumption); if we closely examine this concept we will discover that the Arab world did not benefit from these research conducted, as using these studies can create public mobilization towards consumption which can support the economy of many countries. In most of the Arab countries we will find individualistic consumption patterns that are mainly related to clothes and food purchases, which are considered normal purchase patterns. As for the exceptional consumption patterns, they are mainly related to purchasing expensive cars and overpriced villas.


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