The Political Economy Of Consumer Behaviour

Consumption forms a major part of people’s lives. As such, geographers, historians of technology and sociologists have devoted much attention to trying to figure out what makes consumption meaningful. By contrast, economists have been content to hold onto theories of consumption that depend on a self-interested representative agent making utility maximizing decisions. Pietrykowski develops this alternative account through the recovery of past attempts to forge a different analytical approach to the study of consumption. In particular, theories of consumption espoused by home economists, psychological economists and Regulation school theorists are critically reviewed. These research projects, marginalized by the mainstream, are the precursors of contemporary scholarship in feminist, behavioural and radical political economics. Reclaiming this work greatly enlarges the scope for contemporary research in consumer behavior. Pietrykowski then provides a richly textured set of case studies of green automobility, slow food and alternative/local currency in order to explore the diversity of user cultures and to highlight resistant forms of consumer practice. By carefully interweaving historical and interdisciplinary research Pietrykowski creates a lively and incisive critique of mainstream economics This monograph will be of interest to academic economists, sociologists, historians and graduate students. In addition, the economics of consumption would also be of interest to readers in management, marketing and schools of business administration.

Consumption forms a major part of people's lives. As such, geographers, historians of technology and sociologists have devoted much attention to trying to figure out what makes consumption meaningful. By contrast, economists have been content to hold onto theories of consumption that depend on a self-interested representative agent making utility maximizing decisions. Pietrykowski develops this alternative account through the recovery of past attempts to forge a different analytical approach to the study of consumption. In particular, theories of consumption espoused by home economists, psychological economists and Regulation school theorists are critically reviewed. These research projects, marginalized by the mainstream, are the precursors of contemporary scholarship in feminist, behavioural and radical political economics. Reclaiming this work greatly enlarges the scope for contemporary research in consumer behavior. Pietrykowski then provides a richly textured set of case studies of green automobility, slow food and alternative/local currency in order to explore the diversity of user cultures and to highlight resistant forms of consumer practice. By carefully interweaving historical and interdisciplinary research Pietrykowski creates a lively and incisive critique of mainstream economics This monograph will be of interest to academic economists, sociologists, historians and graduate students. In addition, the economics of consumption would also be of interest to readers in management, marketing and schools of business administration.

Consumption is widely regarded as one of the most important phenomena in contemporary society, but, till now, there has been very little analysis of how consumption patterns evolve, transform and proliferate. This revealing book provides an incisive treatment of consumption on a global scale from a cultural, philosophical and business perspective. Beginning with an analysis of how a dominant form of consumption pattern took hold in modern, capitalist, market economies, this book explores the contemporary changes and paradoxes in our consumption patterns during the transitional period from the modern to the postmodern. The text focuses on the forces shaping American consumption patterns, from corporations to Hollywood, and concludes with an analysis of the emerging trans-modern possibilities of the new 'theatre of consumption' where communities with a variety of consumption styles will flourish. This is an original and radical analysis in which its first-rate authors structure this key topic in a multi-disciplinary and forward-thinking way. As such, it will be of great interest to students and researchers of consumer behaviour in business and the social sciences, as well as those concerned with contemporary cultural transformations.

In this groundbreaking work of economic theory, Robert Scott Moffat argues that traditional theories of political economy have overlooked the crucial role of consumption in shaping economic outcomes. Drawing on a wide range of examples from history and contemporary society, Moffat demonstrates the importance of understanding the dynamics of consumer behavior and the impact they have on the broader economy. This book will be essential reading for anyone interested in the intersection of economics, sociology, and psychology. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

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Objects and commodities have frequently been studied to assess their position within consumer - or material - culture, but all too rarely have scholars examined the politics that lie behind that culture. This book fills the gap and explores the political and state structures that have shaped the consumer and the nature of his or her consumption. From medieval sumptuary laws to recent debates in governments about consumer protection, consumption has always been seen as a highly political act that must be regulated, directed or organized according to the political agendas of various groups. An internationally renowned group of experts looks at the emergence of the rational consuming individual in modern economic thought, the moral and ideological values consumers have attached to their relationships with commodities, and how the practices and theories of consumer citizenship have developed alongside and within the expanding state. How does consumer identity become available to people and how do they use it? How is consumption negotiated in a dictatorship? Are material politics about state politics, consumer politics, or the relationship between these and consumer practices?From the specifics of the politics of consumption in the French Revolution - what was the status of rum? How complicated did a vinegar recipe have to be before the resultant product qualified as 'luxury'? - to the highly contentious twentieth-century debates over American political economy, this original book traces the relationships among political cultures, consumers and citizenship from the eighteenth century to the present.

Utility-based theory and the fallback choice-theoretic framework are shown to be biased, irremediably flawed and misleading. A radically different theory of value and of consumer behaviour is proposed based on existential interpretations of scarcity, value and self-interest. For self-conscious mortals, only time is scarce. All other is derivative scarcity. Value is in the life, as a knowledge extract of time, which goes into commodities as direct human labour and depreciated capital, through their production. By structuring their preferences, consumers try to confiscate more of such value per unit of expended income, extending their social presence, soothing their angst and gaining power over each other. This raises output and makes gains cancel out. Negative psychological externalities preclude any well-being or social-welfare type conclusion. These resolve a number of long-standing issues: endogenously generated growth, the micro-macro connection, the price mechanism, crises, unemployment, etc. Equilibrium is of a low-potential kind, not of a force-balancing one, and it is unique, reachable and stable. The relevant analytics involve purely economic, non-psychological entities. Consumer behaviour is grounded on a well-defined, structure-based decision criterion and on observably measurable magnitudes, only. The social ramifications of the two juxtaposed perspectives are discussed at length.

An excellent addition to Routledge’s strong tradition of publishing exceptional books in heterodox economics, this innovative and groundbreaking volume draws on the work of Schumpeter, Marx and Sraffa, three of the most influential economists of all time. It bases value on a single, inwardly felt scarcity, the scarcity of life, which consumers scramble to experience more of through private possession of the product of socially contributed human time-space, in the form of knowledge embodied in commodities. This coercive urge, which appears outwardly as ‘commodity fetishism’, sets the context of ‘utility’ and self-interest, implicating consumers in the plunder of each other’s toil and of the earth, showing that capitalistic growth surveys existential distress rather than welfare. Existential motivational uniformity joins the seemingly disparate individualistic pursuits into a race for growth, while markets promote variety and innovation. Markets assist consumption innovations to blend with Schumpeterian production innovations as consumers try to foresee market conditions and structure their expenditures towards gaining positional advantage. These explain the structural dynamics of increased roundaboutness through adjustment of prices and demand to an evolving techno-structure. A valuable resource, this book unfolds a new vision of economic theorizing through the extreme basics of agent behaviour.