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| consumption meaning in economics: Handbook of Research on Consumerism in Business and Marketing: Concepts and Practices Kaufmann, Hans-Ruediger, 2014-03-31 The modern era of business has prompted an increased focus on the consumer and the responsibility of corporations to consider their ethical and social obligations to their customers. The rise of the consumerist movement has encouraged further research and development on the topic of consumerism, enabling business to succeed in a consumer-driven market. Handbook of Research on Consumerism in Business and Marketing: Concepts and Practices features research on diverse topics on consumerism in the global marketplace, focusing on the ways in which businesses can improve their relationships with customers as well as analyze and influence purchasing behavior. As a comprehensive reference source on topics pertaining to consumer management, identity, and behavior, this publication is intended for use by marketing professionals, business managers, students, and academicians. |
| consumption meaning in economics: The Theory of the Leisure Class Thorstein Veblen, 2005-12 In The Theory Of The Leisure Class, His First And Best-Known Work, Thorstein Veblen Challenges Some Of Man S Most Cherished Standards Of Behavior And With Devastating Wit And Satire Exposes The Hollowness Of Many Of Our Canons Of Taste, Education, Dress And Culture. Veblen Uses The Leisure Class As His Example Because It Is This Class That Sets The Standards Followed By Every Level Of Society.The Sign Of Membership In The Leisure Class Is Exemption From Industrial Toil And The Mark Of Success Is Lavish Expenditure Conspicuous Consumption Is The Famous Term He Invented To Describe Spending Which Satisfies No Real Need But Is A Mark Of Prestige.The Process Veblen Criticized Continues Today The Same Worship Of An Empty Scale Of Values, The Same Urge To Prove Oneself Better Than One S Neighbor By The Conspicuous Accumulation Of Useless Objects And By Time And Money-Wasting Activities. |
| consumption meaning in economics: The Sociology of Consumption Peter Corrigan, 1997-09-28 This lucid introduction to the sociology of consumerism examines the relationship between production and consumption in late capitalist societies. The historical and theoretical discussion provides the student with the tools to examine key themes in the sociology of consumption. After a detailed historical overview of the advent of consumer society, Peter Corrigan examines theoretical accounts of consumption and consumer practice, including: Veblen and conspicuous consumption; Mary Douglas on the world of goods; Jean Baudrillard on the system of objects; and Pierre Bourdieu on cultural capital. This historical and theoretical discussion provides the student with the tools to examine key themes in the socio |
| consumption meaning in economics: Culture and Consumption Grant David McCracken, 1990-11-22 This book compiles and integrates highly innovative work aimed at bridging the fields of anthropology and consumer behavior. —Journal of Consumer Affairs . . . fascinating . . . ambitious and interesting . . . —Canadian Advertising Foundation Newsletter . . . an anthropological dig into consumerism brimming with original thought . . . —The Globe and Mail Grant McCracken has written a provocative book that puts consumerism in its place in Western society—at the centre. —Report on Business Magazine . . . a stimulating addition to knowledge and theory about the interrelationship of culture and consumption. —Choice [McCracken's] synthesis of anthropological and consumer studies material will give historians new ideas and methods to integrate into their thinking. —Maryland Historian The book offers a fresh and much needed cultural interpretation of consumption. —Journal of Consumer Policy The volume will help balance the prevailing cognitive and social psychological cast of consumer research and should stimulate more comprehensive investigation into consumer behavior. —Journal of Marketing Research . . . broad scope, enthusiasm and imagination . . . a significant contribution to the literature on consumption history, consumer behavior, and American material culture. —Winterhur Portfolio For this is a superb book, a definitive exploration of its subject that makes use of the full range of available literature. —American Journal of Sociology McCracken's book is a fine synthesis of a new current of thought that strives to create an interdisciplinary social science of consumption behaviors, a current to which folklorists have much to contribute. —Journal of American Folklore This provocative book takes a refreshing new view of the culture of consumption. McCracken examines the interplay of culture and consumer behavior from the anthropologist's point of view and provides new insights into the way we view ourselves and our society. |
| consumption meaning in economics: Weekly Weather and Crop Bulletin , 1994 |
| consumption meaning in economics: General Theory Of Employment , Interest And Money John Maynard Keynes, 2016-04 John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and Keynesian views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning |
| consumption meaning in economics: An Inquiry Into the Nature and Causes of the Wealth of Nations Adam Smith, 1822 |
| consumption meaning in economics: Essential Economics Matthew Bishop, 2004-05-01 |
| consumption meaning in economics: Environmentally Significant Consumption National Research Council, Division of Behavioral and Social Sciences and Education, Board on Environmental Change and Society, Committee on the Human Dimensions of Global Change, 1997-07-09 There has been much polemic about affluence, consumption, and the global environment. For some observers, consumption is at the root of global environmental threats: wealthy individuals and societies use far too much of the earth's resource base and should scale back their appetites to preserve the environment for future generations and allow a decent life for the rest of the world. Other observers see affluence as the way to escape environmental threats: economic development increases public pressure for environmental protection and makes capital available for environmentally benign technologies. The arguments are fed by conflicting beliefs, values, hopes, and fearsâ€but surprisingly little scientific analysis. This book demonstrates that the relationship of consumption to the environment needs careful analysis by environmental and social scientists and conveys some of the excitement of treating the issue scientifically. It poses the key empirical questions: Which kinds of consumption are environmentally significant? Which actors are responsible for that consumption? What forces cause or explain environmentally significant consumption? How can it be changed? The book presents studies that open up important issues for empirical study: Are there any signs of saturation in the demand for travel in wealthy countries? What is the relationship between environmental consumption and human well-being? To what extent do people in developing countries emulate American consumption styles? The book also suggests broad strategies that scientists and research sponsors can use to better inform future debates about the environment, development, and consumption. |
| consumption meaning in economics: Monitoring Global Poverty World Bank, 2016-11-28 In 2013, the World Bank Group announced two goals that would guide its operations worldwide. First is the eradication of chronic extreme poverty bringing the number of extremely poor people, defined as those living on less than 1.25 purchasing power parity (PPP)†“adjusted dollars a day, to less than 3 percent of the world’s population by 2030.The second is the boosting of shared prosperity, defined as promoting the growth of per capita real income of the poorest 40 percent of the population in each country. In 2015, United Nations member nations agreed in New York to a set of post-2015 Sustainable Development Goals (SDGs), the first and foremost of which is the eradication of extreme poverty everywhere, in all its forms. Both the language and the spirit of the SDG objective reflect the growing acceptance of the idea that poverty is a multidimensional concept that reflects multiple deprivations in various aspects of well-being. That said, there is much less agreement on the best ways in which those deprivations should be measured, and on whether or how information on them should be aggregated. Monitoring Global Poverty: Report of the Commission on Global Poverty advises the World Bank on the measurement and monitoring of global poverty in two areas: What should be the interpretation of the definition of extreme poverty, set in 2015 in PPP-adjusted dollars a day per person? What choices should the Bank make regarding complementary monetary and nonmonetary poverty measures to be tracked and made available to policy makers? The World Bank plays an important role in shaping the global debate on combating poverty, and the indicators and data that the Bank collates and makes available shape opinion and actual policies in client countries, and, to a certain extent, in all countries. How we answer the above questions can therefore have a major influence on the global economy. |
| consumption meaning in economics: The Experience Economy B. Joseph Pine, James H. Gilmore, 1999 This text seeks to raise the curtain on competitive pricing strategies and asserts that businesses often miss their best opportunity for providing consumers with what they want - an experience. It presents a strategy for companies to script and stage the experiences provided by their products. |
| consumption meaning in economics: National Saving and Economic Performance B. Douglas Bernheim, John B. Shoven, National Bureau of Economic Research, 1991-05 ... Papers presented at a conference held at the Stouffer Wailea Hotel, Maui, Hawaii, January 6-7, 1989. ... part of the Research on Taxation program of the National Bureau of Economic Research. -- p. ix. |
| consumption meaning in economics: Intermediate Microeconomics Patrick M. Emerson, 2019 |
| consumption meaning in economics: A Discourse on the Rise, Progress, Peculiar Objects, and Importance, of Political Economy John Ramsay McCulloch, 1824 |
| consumption meaning in economics: Consumption Alan Warde, 2016-11-29 This book critically reviews recent social scientific investigations of consumption, a controversial topic with moral overtones, and of popular public interest and political and economic significance. The author explores how consumption affects personal identity and social position, developing a sociological analysis using theories of practice to account for everyday consumption, its role in the social order, and its consequences for environmental sustainability. The book offers a controversial analysis which explains consumption not in terms of the purchasing of commodities but of the organization and coordination of daily practices. Consumption will be of interest to scholars and students of sociology, anthropology, geography, cultural studies, consumer research, business studies and social theory. |
| consumption meaning in economics: The Fourth Industrial Revolution Klaus Schwab, 2017-01-03 World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolution, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wearable sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manufacturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individuals. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frameworks that advance progress. |
| consumption meaning in economics: Lifestyle Shopping Rob Shields, 2003-09-02 First Published in 2004. Routledge is an imprint of Taylor & Francis, an informa company. |
| consumption meaning in economics: Economics Campbell R. McConnell, Stanley L. Brue, 1999 |
| consumption meaning in economics: Stakeholder Capitalism Klaus Schwab, 2021-01-27 Reimagining our global economy so it becomes more sustainable and prosperous for all Our global economic system is broken. But we can replace the current picture of global upheaval, unsustainability, and uncertainty with one of an economy that works for all people, and the planet. First, we must eliminate rising income inequality within societies where productivity and wage growth has slowed. Second, we must reduce the dampening effect of monopoly market power wielded by large corporations on innovation and productivity gains. And finally, the short-sighted exploitation of natural resources that is corroding the environment and affecting the lives of many for the worse must end. The debate over the causes of the broken economy—laissez-faire government, poorly managed globalization, the rise of technology in favor of the few, or yet another reason—is wide open. Stakeholder Capitalism: A Global Economy that Works for Progress, People and Planet argues convincingly that if we don't start with recognizing the true shape of our problems, our current system will continue to fail us. To help us see our challenges more clearly, Schwab—the Founder and Executive Chairman of the World Economic Forum—looks for the real causes of our system's shortcomings, and for solutions in best practices from around the world in places as diverse as China, Denmark, Ethiopia, Germany, Indonesia, New Zealand, and Singapore. And in doing so, Schwab finds emerging examples of new ways of doing things that provide grounds for hope, including: Individual agency: how countries and policies can make a difference against large external forces A clearly defined social contract: agreement on shared values and goals allows government, business, and individuals to produce the most optimal outcomes Planning for future generations: short-sighted presentism harms our shared future, and that of those yet to be born Better measures of economic success: move beyond a myopic focus on GDP to more complete, human-scaled measures of societal flourishing By accurately describing our real situation, Stakeholder Capitalism is able to pinpoint achievable ways to deal with our problems. Chapter by chapter, Professor Schwab shows us that there are ways for everyone at all levels of society to reshape the broken pieces of the global economy and—country by country, company by company, and citizen by citizen—glue them back together in a way that benefits us all. |
| consumption meaning in economics: The Sum of Small Things Elizabeth Currid-Halkett, 2017-05-15 How the leisure class has been replaced by a new elite, and how their consumer habits affect us all In today’s world, the leisure class has been replaced by a new elite. Highly educated and defined by cultural capital rather than income bracket, these individuals earnestly buy organic, carry NPR tote bags, and breast-feed their babies. They care about discreet, inconspicuous consumption—like eating free-range chicken and heirloom tomatoes, wearing organic cotton shirts and TOMS shoes, and listening to the Serial podcast. They use their purchasing power to hire nannies and housekeepers, to cultivate their children’s growth, and to practice yoga and Pilates. In The Sum of Small Things, Elizabeth Currid-Halkett dubs this segment of society “the aspirational class” and discusses how, through deft decisions about education, health, parenting, and retirement, the aspirational class reproduces wealth and upward mobility, deepening the ever-wider class divide. Exploring the rise of the aspirational class, Currid-Halkett considers how much has changed since the 1899 publication of Thorstein Veblen’s Theory of the Leisure Class. In that inflammatory classic, which coined the phrase “conspicuous consumption,” Veblen described upper-class frivolities: men who used walking sticks for show, and women who bought silver flatware despite the effectiveness of cheaper aluminum utensils. Now, Currid-Halkett argues, the power of material goods as symbols of social position has diminished due to their accessibility. As a result, the aspirational class has altered its consumer habits away from overt materialism to more subtle expenditures that reveal status and knowledge. And these transformations influence how we all make choices. With a rich narrative and extensive interviews and research, The Sum of Small Things illustrates how cultural capital leads to lifestyle shifts and what this forecasts, not just for the aspirational class but for everyone. |
| consumption meaning in economics: The World of Goods Mary Douglas, Baron Isherwood, 2021-03-28 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 |
| consumption meaning in economics: Consumer Society Barry Smart, 2010-03-15 What factors are contributing to the continuing growth in consumption of goods and services? At what point do the costs associated with consumerism begin to call our way of life into question? How are the problems of resource depletion, waste and pollution, and environmental impact being addressed? What is to be done about the consequences of our all-consuming way of life? Ever-increasing consumption and a relentless pursuit of growth in output are the twin pillars on which the modern economy and contemporary social life rest. But the consumer way of life is globally unsustainable. We can′t all live the consumer dream. This comprehensive, lively and informative book will quickly be recognized as a benchmark in the field. It brings together a huge set of resources for thinking about the development of consumer culture, its defining features, and global consequences. Adept in handling a complex range of classical and contemporary theoretical sources, the book draws on an impressive range of comparative material and provides a variety of contemporary examples to inform and enhance understanding of our consuming way of life. Smart writes with verve and feeling and has produced a stimulating book that enlarges our understanding of consumer culture and provides a timely critical analysis of its consequences. Clear, engaging, and original this book will be essential reading for all those interested in and concerned about our global culture of consumption including researchers and students in sociology, politics, cultural studies, economics, and social geography. |
| consumption meaning in economics: The Economic and Fiscal Consequences of Immigration National Academies of Sciences, Engineering, and Medicine, Division of Behavioral and Social Sciences and Education, Committee on National Statistics, Panel on the Economic and Fiscal Consequences of Immigration, 2017-07-13 The Economic and Fiscal Consequences of Immigration finds that the long-term impact of immigration on the wages and employment of native-born workers overall is very small, and that any negative impacts are most likely to be found for prior immigrants or native-born high school dropouts. First-generation immigrants are more costly to governments than are the native-born, but the second generation are among the strongest fiscal and economic contributors in the U.S. This report concludes that immigration has an overall positive impact on long-run economic growth in the U.S. More than 40 million people living in the United States were born in other countries, and almost an equal number have at least one foreign-born parent. Together, the first generation (foreign-born) and second generation (children of the foreign-born) comprise almost one in four Americans. It comes as little surprise, then, that many U.S. residents view immigration as a major policy issue facing the nation. Not only does immigration affect the environment in which everyone lives, learns, and works, but it also interacts with nearly every policy area of concern, from jobs and the economy, education, and health care, to federal, state, and local government budgets. The changing patterns of immigration and the evolving consequences for American society, institutions, and the economy continue to fuel public policy debate that plays out at the national, state, and local levels. The Economic and Fiscal Consequences of Immigration assesses the impact of dynamic immigration processes on economic and fiscal outcomes for the United States, a major destination of world population movements. This report will be a fundamental resource for policy makers and law makers at the federal, state, and local levels but extends to the general public, nongovernmental organizations, the business community, educational institutions, and the research community. |
| consumption meaning in economics: Consumption and the World of Goods John Brewer, Roy Porter, 2013-06-17 The study of past society in terms of what it consumes rather than what it produces is - relatively speaking - a new development. The focus on consumption changes the whole emphasis and structure of historical enquiry. While human beings usually work within a single trade or industry as producers, as, say, farmers or industrial workers, as consumers they are active in many different markets or networks. And while history written from a production viewpoint has, by chance or design, largely been centred on the work of men, consumption history helps to restore women o the mainstream. The history of consumption demands a wide range of skills. It calls upon the methods and techniques of many other disciplines, including archaeology, sociology, social and economic history, anthropology and art criticism. But it is not simply a melting-pot of techniques and skills, brought to bear on a past epoch. Its objectives amount to a new description of a past culture in its totality, as perceived through its patterns of consumption in goods and services. Consumption and the World of Goods is the first of three volumes to examine history from this perspective, and is a unique collaboration between twenty-six leading subject specialists from Europe and North America. The outcome is a new interpretation of the seventeenth and eighteenth centuries, one that shapes a new historical landscape based on the consumption of goods and services. |
| consumption meaning in economics: Understanding Consumption Angus Deaton, 1992 An overview of the saving and consumption patterns of households |
| consumption meaning in economics: Principles Ray Dalio, 2018-08-07 #1 New York Times Bestseller “Significant...The book is both instructive and surprisingly moving.” —The New York Times Ray Dalio, one of the world’s most successful investors and entrepreneurs, shares the unconventional principles that he’s developed, refined, and used over the past forty years to create unique results in both life and business—and which any person or organization can adopt to help achieve their goals. In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out of his two-bedroom apartment in New York City. Forty years later, Bridgewater has made more money for its clients than any other hedge fund in history and grown into the fifth most important private company in the United States, according to Fortune magazine. Dalio himself has been named to Time magazine’s list of the 100 most influential people in the world. Along the way, Dalio discovered a set of unique principles that have led to Bridgewater’s exceptionally effective culture, which he describes as “an idea meritocracy that strives to achieve meaningful work and meaningful relationships through radical transparency.” It is these principles, and not anything special about Dalio—who grew up an ordinary kid in a middle-class Long Island neighborhood—that he believes are the reason behind his success. In Principles, Dalio shares what he’s learned over the course of his remarkable career. He argues that life, management, economics, and investing can all be systemized into rules and understood like machines. The book’s hundreds of practical lessons, which are built around his cornerstones of “radical truth” and “radical transparency,” include Dalio laying out the most effective ways for individuals and organizations to make decisions, approach challenges, and build strong teams. He also describes the innovative tools the firm uses to bring an idea meritocracy to life, such as creating “baseball cards” for all employees that distill their strengths and weaknesses, and employing computerized decision-making systems to make believability-weighted decisions. While the book brims with novel ideas for organizations and institutions, Principles also offers a clear, straightforward approach to decision-making that Dalio believes anyone can apply, no matter what they’re seeking to achieve. Here, from a man who has been called both “the Steve Jobs of investing” and “the philosopher king of the financial universe” (CIO magazine), is a rare opportunity to gain proven advice unlike anything you’ll find in the conventional business press. |
| consumption meaning in economics: Consumption and Everyday Life Mark Paterson, 2006 This engaging book introduces key ideas and theorists of consumption in an accessible way. Case studies that describe familiar acts of consumption from areas of everyday life are used to ground relevant debates and ideas. |
| consumption meaning in economics: Finance & Development, September 2014 International Monetary Fund. External Relations Dept., 2014-08-25 This chapter discusses various past and future aspects of the global economy. There has been a huge transformation of the global economy in the last several years. Articles on the future of energy in the global economy by Jeffrey Ball and on measuring inequality by Jonathan Ostry and Andrew Berg are also illustrated. Since the 2008 global crisis, global economists must change the way they look at the world. |
| consumption meaning in economics: A Guide to the Systems of Provision Approach Kate Bayliss, Ben Fine, 2021-01-04 Understanding consumption requires looking at the systems by which goods and services are provided – not just how they are produced but the historically evolved structures, power relations and cultures within which they are located. The Systems of Provision approach provides an interdisciplinary framework for unpacking these complex issues. This book provides a comprehensive account of the Systems of Provision approach, setting out core concepts and theoretical origins alongside numerous case studies. The book combines fresh understandings of everyday consumption using examples from food, housing, and water, with implications for society’s major challenges, including inequality, climate change, and prospects for capitalism. Readers do not require prior knowledge across the subject matter covered but the text remains significant for accomplished researchers and policymakers, especially those interested in the messy real world realities underpinning who gets what, how, and why across public and private provision in global, national, and historical contexts. |
| consumption meaning in economics: Fixed Assets and Consumer Durable Goods in the United States ... , 2003 |
| consumption meaning in economics: Big Data for Twenty-First-Century Economic Statistics Katharine G. Abraham, Ron S. Jarmin, Brian C. Moyer, Matthew D. Shapiro, 2022-03-11 Introduction.Big data for twenty-first-century economic statistics: the future is now /Katharine G. Abraham, Ron S. Jarmin, Brian C. Moyer, and Matthew D. Shapiro --Toward comprehensive use of big data in economic statistics.Reengineering key national economic indicators /Gabriel Ehrlich, John Haltiwanger, Ron S. Jarmin, David Johnson, and Matthew D. Shapiro ;Big data in the US consumer price index: experiences and plans /Crystal G. Konny, Brendan K. Williams, and David M. Friedman ;Improving retail trade data products using alternative data sources /Rebecca J. Hutchinson ;From transaction data to economic statistics: constructing real-time, high-frequency, geographic measures of consumer spending /Aditya Aladangady, Shifrah Aron-Dine, Wendy Dunn, Laura Feiveson, Paul Lengermann, and Claudia Sahm ;Improving the accuracy of economic measurement with multiple data sources: the case of payroll employment data /Tomaz Cajner, Leland D. Crane, Ryan A. Decker, Adrian Hamins-Puertolas, and Christopher Kurz --Uses of big data for classification.Transforming naturally occurring text data into economic statistics: the case of online job vacancy postings /Arthur Turrell, Bradley Speigner, Jyldyz Djumalieva, David Copple, and James Thurgood ;Automating response evaluation for franchising questions on the 2017 economic census /Joseph Staudt, Yifang Wei, Lisa Singh, Shawn Klimek, J. Bradford Jensen, and Andrew Baer ;Using public data to generate industrial classification codes /John Cuffe, Sudip Bhattacharjee, Ugochukwu Etudo, Justin C. Smith, Nevada Basdeo, Nathaniel Burbank, and Shawn R. Roberts --Uses of big data for sectoral measurement.Nowcasting the local economy: using Yelp data to measure economic activity /Edward L. Glaeser, Hyunjin Kim, and Michael Luca ;Unit values for import and export price indexes: a proof of concept /Don A. Fast and Susan E. Fleck ;Quantifying productivity growth in the delivery of important episodes of care within the Medicare program using insurance claims and administrative data /John A. Romley, Abe Dunn, Dana Goldman, and Neeraj Sood ;Valuing housing services in the era of big data: a user cost approach leveraging Zillow microdata /Marina Gindelsky, Jeremy G. Moulton, and Scott A. Wentland --Methodological challenges and advances.Off to the races: a comparison of machine learning and alternative data for predicting economic indicators /Jeffrey C. Chen, Abe Dunn, Kyle Hood, Alexander Driessen, and Andrea Batch ;A machine learning analysis of seasonal and cyclical sales in weekly scanner data /Rishab Guha and Serena Ng ;Estimating the benefits of new products /W. Erwin Diewert and Robert C. Feenstra. |
| consumption meaning in economics: Asset Pricing John H. Cochrane, 2009-04-11 Winner of the prestigious Paul A. Samuelson Award for scholarly writing on lifelong financial security, John Cochrane's Asset Pricing now appears in a revised edition that unifies and brings the science of asset pricing up to date for advanced students and professionals. Cochrane traces the pricing of all assets back to a single idea—price equals expected discounted payoff—that captures the macro-economic risks underlying each security's value. By using a single, stochastic discount factor rather than a separate set of tricks for each asset class, Cochrane builds a unified account of modern asset pricing. He presents applications to stocks, bonds, and options. Each model—consumption based, CAPM, multifactor, term structure, and option pricing—is derived as a different specification of the discounted factor. The discount factor framework also leads to a state-space geometry for mean-variance frontiers and asset pricing models. It puts payoffs in different states of nature on the axes rather than mean and variance of return, leading to a new and conveniently linear geometrical representation of asset pricing ideas. Cochrane approaches empirical work with the Generalized Method of Moments, which studies sample average prices and discounted payoffs to determine whether price does equal expected discounted payoff. He translates between the discount factor, GMM, and state-space language and the beta, mean-variance, and regression language common in empirical work and earlier theory. The book also includes a review of recent empirical work on return predictability, value and other puzzles in the cross section, and equity premium puzzles and their resolution. Written to be a summary for academics and professionals as well as a textbook, this book condenses and advances recent scholarship in financial economics. |
| consumption meaning in economics: The General Theory of Employment, Interest and Money John Maynard Keynes, 1989 |
| consumption meaning in economics: Heterogeneity and Persistence in Returns to Wealth Andreas Fagereng, Luigi Guiso, Mr.Davide Malacrino, Luigi Pistaferri, 2018-07-27 We provide a systematic analysis of the properties of individual returns to wealth using twelve years of population data from Norway’s administrative tax records. We document a number of novel results. First, during our sample period individuals earn markedly different average returns on their financial assets (a standard deviation of 14%) and on their net worth (a standard deviation of 8%). Second, heterogeneity in returns does not arise merely from differences in the allocation of wealth between safe and risky assets: returns are heterogeneous even within asset classes. Third, returns are positively correlated with wealth: moving from the 10th to the 90th percentile of the financial wealth distribution increases the return by 3 percentage points - and by 17 percentage points when the same exercise is performed for the return to net worth. Fourth, wealth returns exhibit substantial persistence over time. We argue that while this persistence partly reflects stable differences in risk exposure and assets scale, it also reflects persistent heterogeneity in sophistication and financial information, as well as entrepreneurial talent. Finally, wealth returns are (mildly) correlated across generations. We discuss the implications of these findings for several strands of the wealth inequality debate. |
| consumption meaning in economics: Consumer Culture Roberta Sassatelli, 2007-05-17 'Roberta Sassatelli has written a thorough and wide-ranging synthetic account of social scientific research on consumption which will set the standard for the second generation of textbooks on cultures of consumption. Consumer Culture is an appealing and lucid introduction to the major themes - historical and contemporary, theoretical and empirical - surrounding the growth, nature and consequences of consumer culture. It will be of professional interest as well as serving a student audience' - Alan Warde, University of Manchester Showing the cultural and institutional processes that have brought the notion of the 'consumer' to life, this book guides the reader on a comprehensive journey through the history of how we have come to understand ourselves as consumers in a consumer society and reveals the profound ambiguities and ambivalences inherent within. While rooted in sociology, Sassatelli draws on the traditions of history, anthropology, geography and economics to give: - A history of the rise of consumer culture around the world; - A richly illustrated analysis of theory from neo-classical economics, to critical theory, to theories of practice and ritual de-commoditization; and - A compelling discussion of the politics underlying our consumption practices. An exemplary introduction to the history and theory of consumer culture, this book provides nuanced answers to some of the most central questions of our time. |
| consumption meaning in economics: The History of Economic Ideas Brandon Dupont, 2017-03-31 The global financial crisis has drawn attention to the importance of understanding historical ideas and learning lessons from the past. However, it can sometimes be difficult to trace the connections between old ideas and modern day issues. This textbook traces the evolution of economic ideas from the ancient to the modern world by examining the contributions of the most important scholars to some of the most important ideas in economics. The History of Economic Ideas surveys topics that are important for the understanding of contemporary economic issues, including the ethical foundations of modern economics; ideas regarding property rights; price theory; money and interest; public finance; the theories of business cycles and economic growth; international trade; and issues related to population and resource use. The book’s originality lies in its overall organization, which allows readers to explore the development of ideas on a specific topic in detail. Yet it is brief enough to use alongside the original writings on which it is based. Filled with student-friendly features including a series of Did You Know facts and end-of-chapter questions, this book is engaging and provides invaluable reading for all students of the history of economic thought and economic issues. |
| consumption meaning in economics: Wealth, Disposable Income and Consumption R. Tiff Macklem, Bank of Canada, 1994 This report develops a measure of aggregate private sector wealth in Canada that includes financial, physical, and human wealth, and examines the ability of this wealth measure to explain aggregate consumption. The relationship between consumption and wealth is explored both to gauge the usefulness of the wealth measures developed and to improve upon empirical consumption models for Canada. The study augments the standard EC consumption model with a comprehensive measure of wealth, thus partly bridging the gap between life cycle-permanent income consumption equations and the more empirically motivated EC consumption models based on disposable income. |
| consumption meaning in economics: Understanding National Accounts Second Edition Lequiller François, Blades Derek, 2014-10-20 This is an update of OECD 2006 Understanding National Accounts. It contains new data, new chapters and is adapted to the new systems of national accounts, SNA 2008 and ESA 2010. |
| consumption meaning in economics: The World of Consumption Ben Fine, 2002 Consumption has become one of the leading topics across the social sciences and vocational disciplines such as marketing and business studies. In this comprehensively updated and revised new edition, traditional approaches as well as the most recent literature are fully addressed and incorporated, with wide reference to theoretical and empirical work. Fine's refreshing and authoritative text includes a critical examination of such themes as: * economics imperialism and globalization * the world of commodities * systems of provision and culture * the consumer society * public consumption. This book presents an updated analysis of the cluttered landscape of studies of consumption that will make it required reading for students from a wide range of backgrounds including political economy, history and social science courses generally. |
| consumption meaning in economics: Acknowledging Consumption Daniel Miller, 2005-09-20 A multi-disciplinary overview providing new theories, critical analyses and the latest reasearch on this very fashionable topic. Includes chapters on consumption studies in anthropology, economics, history, sociology and many more areas. |
CONSUMPTION Definition & Meaning - Merriam-Webster
The meaning of CONSUMPTION is the act or process of consuming. How to use consumption in a sentence.
Consumption (economics) - Wikipedia
According to mainstream economists, only the final purchase of goods and services by individuals constitutes consumption, while other types of expenditure — in particular, fixed investment, …
CONSUMPTION | English meaning - Cambridge Dictionary
CONSUMPTION definition: 1. the amount used or eaten: 2. the act of using, eating, or drinking something: 3. the situation…. Learn more.
Consumption (disease) | definition of Consumption (disease) by …
Tuberculosis was popularly known as consumption for a long time. Scientists know it as an infection caused by M. tuberculosis. In 1882, the microbiologist Robert Koch discovered the …
Consumption - Definion, Economics, Importance, Levels
Consumption is defined as the use of goods and services by a household. It is a component in the calculation of the Gross Domestic Product (GDP). Macroeconomists typically use consumption …
What is consumption? Definition and examples - Market …
Consumption is the process of buying or using goods and services. In other words, doing what consumers in an economy do – consume. It is the basic foundation for economics, as well as a …
Consumption - Meaning, Economics, Example, Factors, Types
Consumption is drawing benefits from a resource, product, or service. An individual consumes a product or service to fulfill needs or attain satisfaction. The consumption volume regulates the …
What does Consumption mean? - Definitions.net
According to mainstream economists, only the final purchase of goods and services by individuals constitutes consumption, while other types of expenditure — in particular, fixed investment, …
Consumption - Definition, Meaning & Synonyms
Consumption means using, buying or eating something. If we don't reduce our energy consumption, we will run out of fuel. Conspicuous consumption is buying something to show off.
After more than a decade of little change, U.S. electricity consumption …
May 13, 2025 · In our latest Short-Term Energy Outlook, we forecast U.S. annual electricity consumption will increase in 2025 and 2026, surpassing the all-time high reached in 2024.This …
CONSUMPTION Definition & Meaning - Merriam-Webster
The meaning of CONSUMPTION is the act or process of consuming. How to use consumption in a sentence.
Consumption (economics) - Wikipedia
According to mainstream economists, only the final purchase of goods and services by individuals constitutes consumption, while other types of expenditure — in particular, fixed investment, …
CONSUMPTION | English meaning - Cambridge Dictionary
CONSUMPTION definition: 1. the amount used or eaten: 2. the act of using, eating, or drinking something: 3. the situation…. Learn more.
Consumption (disease) | definition of Consumption (disease) by …
Tuberculosis was popularly known as consumption for a long time. Scientists know it as an infection caused by M. tuberculosis. In 1882, the microbiologist Robert Koch discovered the …
Consumption - Definion, Economics, Importance, Levels
Consumption is defined as the use of goods and services by a household. It is a component in the calculation of the Gross Domestic Product (GDP). Macroeconomists typically use consumption …
What is consumption? Definition and examples - Market …
Consumption is the process of buying or using goods and services. In other words, doing what consumers in an economy do – consume. It is the basic foundation for economics, as well as a …
Consumption - Meaning, Economics, Example, Factors, Types
Consumption is drawing benefits from a resource, product, or service. An individual consumes a product or service to fulfill needs or attain satisfaction. The consumption volume regulates the …
What does Consumption mean? - Definitions.net
According to mainstream economists, only the final purchase of goods and services by individuals constitutes consumption, while other types of expenditure — in particular, fixed investment, …
Consumption - Definition, Meaning & Synonyms
Consumption means using, buying or eating something. If we don't reduce our energy consumption, we will run out of fuel. Conspicuous consumption is buying something to show off.
After more than a decade of little change, U.S. electricity consumption …
May 13, 2025 · In our latest Short-Term Energy Outlook, we forecast U.S. annual electricity consumption will increase in 2025 and 2026, surpassing the all-time high reached in 2024.This …
