World Consumption Economics

This book extends research in consumption economics by identifying similarities and differences in consumption patterns in a large number of countries, both developed and less developed. Its approach is to carefully analyze a large body of data from a highly diverse group of countries to determine the extent to which a simple economic framework can be used to understand and explain consumer behavior. It uses data from more than 40 countries which range from the most affluent to the poorest in the world. The book pays particular attention to the consumption of food and to new simulation techniques applied to systems of demand equations.

The world is poised on the threshold of economic changes that will reduce the income gap between the rich and poor on a global scale while reshaping patterns of consumption. Rapid economic growth in emerging-market economies is projected to enable consumers worldwide to spend proportionately less on food and more on transportation, goods, and services, which will in turn strain the global infrastructure and accelerate climate change. The largest gains will be made in poorer parts of the world, chiefly sub-Saharan Africa and India, followed by China and the advanced economies. In this new study, Tomas Hellebrandt and Paulo Mauro detail how this important moment in world history will unfold and serve as a warning to policymakers to prepare for the profound effects on the world economy and the planet.

This book adds a whole new dimension to the editors’ previous work on the social, economic, and environmental effects of global trade. For the first time it brings all three pillars of sustainability together into one coherent multiregional input–output (MRIO) framework. It shows the power of MRIO analysis to illuminate the local and global interdependencies of economic, environmental, and social systems and the benefits to be gained through analysing all three together. Change one thing and everything else changes. With chapters from around 60 researchers across 34 countries, this book illustrates the effect of natural resources and government policy settings 1990–2015 on the balancing act that was—and is—global trade. It provides a holistic systems’ view of how supply chains work, revealing how easily they can become fragmented and out of kilter. And within all the chaos of COVID-19 it shows how MRIO is the one tool that can help rebuild a post-pandemic global economy into a fairer, safer world.

This book presents an analysis of consumption patterns in the OECD (rich) and LDC (poor) countries using recent data (1950–1998) and econometric methodology for a number of broadly aggregated consumer goods. The income elasticity estimates for the 46 countries and 9 commodity groups are tabulated. The reliability of these elasticity estimates, and also the demand theory hypotheses, are investigated using simulation techniques. Contents: An Overview of International Consumption Patterns (E A Selvanathan & S Selvanathan)Consumer Demand Models (E A Selvanathan & S Selvanathan)Data Analysis: OECD Countries (E A Selvanathan & S Selvanathan)Data Analysis: Less Developed Countries (E A Selvanathan & S Selvanathan)A Comparison of Consumption Patterns in the OECD and LD Countries (E A Selvanathan & S Selvanathan)Stochastic Price and Quantity Index Numbers (E A Selvanathan & S Selvanathan)Testing Demand Theory Hypotheses: OECD and LD Countries (E A Selvanathan & S Selvanathan)A Comparison of Alternative Demand Systems (E A Selvanathan & S Selvanathan)The Structure of Preferences: OECD and LD Countries (E A Selvanathan & S Selvanathan) Readership: Economists. Keywords:Consumer Demand;International Consumption Comparison;Stochastic Index Numbers;Testing Demand Theory Hypotheses

This book addresses the challenge posed by J.K. Galbraith over fifty years ago to make a constructive contribution to a different style of economic analysis - the economics of abundance. It identifies a system of abundance inhabited by the ?people of plenty? and illustrates that the driver of growth in this system is spending by affluent consumers. This timely book provides essential heterodox economic theory to explain this spending and explore its key drivers and constraints.

The purpose of this contributed volume is to consider how global consumption patterns will develop in the next few decades, and what the consequences of that development will be for the economy, policymakers, and society at large. In the long run, the extent to which economic growth translates into better living conditions strongly depends on how rising affluence and new technologies shape consumer preferences. The ongoing rise in household income in developing countries raises some important questions: Will consumption patterns always continue to expand in the same manner as we have witnessed in the previous two centuries? If not, how might things evolve differently? And what implications would such changes hold for not only our understanding of consumption behavior but also our pursuit of more sustainable societies?

It is well-understood that the consumption of goods plays an important, symbolic role in the way human beings communicate, create identity, and establish relationships. What is less well-known is that the pattern of their flow shapes society in fundamental ways. In this book the renowned anthropologist Mary Douglas and economist Baron Isherwood overturn arguments about consumption that rely on received economic and psychological explanations. They ask new questions about why people save, why they spend, what they buy, and why they sometimes-but not always-make fine distinctions about quality. Instead of regarding consumption as a private means of satisfying one’s preferences, they show how goods are a vital information system, used by human beings to fulfill their intentions towards one another. They also consider the implications of the social role of goods for a new vision for social policy, arguing that poverty is caused as much by the erosion of local communities and networks as it is by lack of possessions, and contrast small-scale with large-scale consumption in the household. A radical rethinking of consumerism, inequality and social capital, The World of Goods is a classic of economic anthropology whose insights remain compelling and urgent. This Routledge Classics edition includes a new foreword by Richard Wilk. "Forget that commodities are good for eating, clothing, and shelter; forget their usefulness and try instead the idea that commodities are good for thinking." – Mary Douglas and Baron Isherwood

Sustainable development cannot be achieved solely at the international level. Without the creation of more sustainable livelihoods, it will remain a utopian and elusive goal. Yet given the huge differences in economic development and levels of consumption between North and South, how might this be brought about? Taking the 1992 Rio Summit as its point of departure, Wasted examines what we now need to know, and what we need to do, to live within sustainable limits. One of the key issues is how we use the environment: converting natural resources into human artifices, commodities and services. In the process of consuming, we also create sinks. Today, these sinks - the empty back pocket in the global biogeographical system - are no longer empty. The fate of the global environment is indissolubly linked to our consumption: particularly in the energy-profligate North. To understand and overcome environmental challenges, we need to build the outcomes of our present consumption rates into our future behavior: to accept sustainable development as a normative goal for societies; one that is bound up with our everyday social practices and actions. In this absorbing new book, Michael Redclift argues that the way we understand and think about the environment conditions our responses, and our ability to meet the challenge, and discusses tangible policies for increased sustainability that are grounded in recent research and practice.