Devising Consumption

The book explores the vital role played by the financial service industries in enabling the poor to consume over the last hundred and fifty years. Spending requires means, but these industries offered something else as well – they offered practical marketing devices that captured, captivated and enticed poor consumers. Consumption and consumer markets depend on such devices but their role has been poorly understood both in the social sciences and in business studies and marketing. While the analysis of consumption and markets has been carved up between academics and practitioners who have been interested in either their social and cultural life or their economic and commercial organisation, consumption continues to be driven by their combination. Devising consumption requires practical mixtures of commerce and art whether the product is an insurance policy or the next gadget in the internet of things . By making the case for a pragmatic understanding of how ordinary, everyday consumption is orchestrated, the book offers an alternative to orthodox approaches, which should appeal to interdisciplinary audiences interested in questions about how markets work and why it matters.

The book explores the vital role played by the financial service industries in enabling the poor to consume over the last hundred and fifty years. Spending requires means, but these industries offered something else as well - they offered practical marketing devices that captured, captivated and enticed poor consumers. Consumption and consumer markets depend on such devices but their role has been poorly understood both in the social sciences and in business studies and marketing. By advancing the case for a pragmatic understanding of how ordinary, dull, everyday consumption is arranged, the book offers an alternative to orthodox approaches, which will appeal to broader interdisciplinary audiences interested in questions about how, and why, consumer markets work.

First published in 1986, Economic Myths and the Mythology of Economics is a polemical study in which the author focuses on the popular myths and misconceptions that colour our understanding of economic issues. Professor Mishan, the internationally recognised economist and expert in the field of resource allocation and cost benefit analysis, undermines the idea that economics is a science. But such are popular myths, he argues, that governments employ battalions of economists in their ongoing attempts to promote economic growth, efficiency and employment. The author challenges the validity and measurement of such concepts as economic efficiency and GNP, and questions the assumption that free competitive markets can operate effectively in a rapidly changing, high-technology society. Professor Mishan foresees in his study further expansion as an unavoidable consequence of continued innovation, while revealing the interconnecting processes by which innovative activity, designed to raise living standards, has begun to erode the moral and psychological foundations of a viable and libertarian society.

By any measure, the affluent sector is growing exponentially, and is far more diverse (in terms of ethnicity, education, location, and professional background) than any time in the past. This market represents lucrative opportunities for companies that understand how these customers think, act, and make purchasing decisions. Applying primary research, including demographic and economic data, and expertise developed from decades of studying, teaching, and consulting in marketing and consumer behavior, Ronald Michman and Edward Mazze present a comprehensive approach to analyzing the affluent consumer—and creating, promoting, and selling innovative products and services to them. Illustrating their principles through dozens of examples, including Armani, Mercedes Benz, Brooks Brothers, Neiman Marcus, Merrill Lynch, Tiffany, and even discounters, such as Target and Wal-Mart, the authors deconstruct how a complex market segment works. Dispelling popular myths and misconcpetions about the composition and behavior of this segment, they provide not only a practical guide for marketers and students of marketing, but a fascinating glimpse into a culture driven by materalism, status, and aspirations to luxury. By any measure, the affluent sector is growing exponentially, and is far more diverse (in terms of ethnicity, education, location, and professional background) than at any time in the past. In 2004, there were 8.2 million households in the United States with net worth over $1 million, excluding primary residence. Meanwhile, between 1995 and 2001, the number of families filing tax returns for income exceeding $200,000 doubled. This market represents lucrative opportunities for companies that understand how these consumers think, act, and make purchasing decisions.

"This work is a product of the staff of The World Bank with external contributions"--T.p. verso.

There are many problems regarding poverty, inequality and growth in developing countries in Asia and Africa. Policy makers at the national level and at international institutions such as the United Nations, World Bank, International Monetary Fund and others have implemented various policies in order to decrease poverty and inequality. This book provides empirical observations on Asian countries and Africa. Each chapter provides theoretical and empirical analysis on regional case studies with an emphasis on policy implications. The book will be of use to many who wish to assess and improve policies in developing countries and mitigate poverty and inequality, and stimulate growth, by drawing on relevant empirical research and economic theories. Clearly, there have been numerous policy failures and the book aims to provide a basis for improving policies and outcomes based on relevant empirical observations.

In the context of sustained economic and environmental crises, marked by extreme inequalities of wealth, rising xenophobia, racism and precarity, never has the need for a radical change of system been so pressing. This book is an invitation to think the world otherwise. The author breathes new life into socialist thought through the deployment of an intersectional lens, bringing diverse struggles for emancipation both within and outside the Global North into dialogue with one another. In doing so, he offers the kind of bold and holistic thinking the present situation calls for.