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Consumerism is a movement seeking to augment the rights and powers of the buyers in relation to sellers. It is a movement seeking to protect and inform consumers about their rights and duties. And consumer awareness requires consumer education. In other words, consumer education is directly proportionate to consumerism. It may be noted that many attempts have been made at international and domestic levels to encompass policies aimed at regulating the buyer-seller relation by adopting standards and methods which minimize the consumer grievances and provide a means through which consumer seeks redress and reparations. Against this background, this paper makes an attempt to explore the meaning and content of consumerism.
It may be noted that monitoring the de facto realities of the consumer in the State
includes consumer education for it helps in bridging the gap between the ‘is’ and the
‘ought’. Consumerism is a term that has undergone a variety of changes in its meanings.
There are a lot of overlappings and contradictions in its usage and interaction with
innovation. The diversity of meanings as well as the common features and the differences
in their manifestation in the various parts of the world is the basis for exploring
consumerism as a reason for innovation and product development from three major
aspects: (i) consumerism as a driver of economic growth; (ii) consumerism as protection
of consumer rights; and (iii) consumerism as customers’ empowerment.1
The consumer protection laws have originated and developed as a natural response
to the recognition of the rights of every consumer to be protected against exploitation
and abuse by any manufacturer or supplier of goods or service providers. In the present
situation, consumer protection, though as old as consumer exploitation2, has assumed
greater importance and relevance. It may be noted that the interest of the producer is immediate and obvious3, whereas the interest of the consumer is distant and diffuse. As
a result, the two often come into conflict which has led to the development of consumerism.
Law Review Journal, Consumerism, Insight, Consumerism, Historical Development, Consumer Protection, Consumerism, International Dimension, Economy.