Consumerism vs Capitalism - What's the difference?
consumerism | capitalism |
A policy of protecting and informing consumers through honesty in advertising and packaging, improved safety standards etc
A materialistic attachment to possessions.
An economic theory that increased consumption is beneficial to a nation's economy in the long run.
(politics, uncountable) a socio-economic system based on private property rights, including the private ownership of resources or capital, with economic decisions made largely through the operation of a market unregulated by the state.
(economics, uncountable) a socio-economic system based on the abstraction of resources into the form of privately owned capital, with economic decisions made largely through the operation of a market unregulated by the state.
(countable) a specific variation or implementation of either such socio-economic system.