Sociology 2172A/B Chapter Notes - Chapter 3: Grou, Consumer Capitalism

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In the early years of modernity, the key economic problem was supply: To provide the relative basic commodities food, clothing, housing, transportation at a. The economy and the status system price the masses could afford. Not due to inability to produce and supply goods and services. In postmod societies maintaining consumer confidence and a steady demand is crucial: eager consumers are most important, state contributes to goal through regulation of interest rates, taxes, and state expenditures, businesses do this through advertising. Some directed toward providing people with information about price/practical utility. Goods valued for status they bring he owner. Demand for consumer commodities must be created through obsolescence: some created by innovation that makes new products and production. More efficient and effective that what was previously available: specifically make products that are designed to wear out. Others may produce quality goods and lure away customers: turn product into a status symbol.

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