Like the sexagenarians lived ideally in their times, so are the present young people living ideally in the present...
Having said that the IT sector has spawned many sectors creating jobs for all and sundry — thereby expanding the economic activity — it is only natural that consumerism will come to the fore. And when consumerism is as high as it is today, it is but natural, business moguls will bring in their brands and flood the economy with it. Thus, one industry makes way for the other — it is a mere economic activity that dictates the capacity for one’s needs, to reach out for that brand.
Expansion in economic activity lays the foundation of the nature of consumerism. It generally specifies certain spending patterns. For example: the requirements of the office décor, or the office attire, or upgrading of a vehicle to suit the current job. All these dictates come from the economic environment. Like all social change, opting for brands is also a social change and it is not limited to the young alone as often perceived.
Of course, the young can enjoy the brands better — simply because they are in the midst of an economy that is bringing in the brands and it is the youth that will try new things. Such positively good consumerism should be seen in positive light and as economic progress. When the young can earn enough to sustain their want of branded goods, it means the production level of those goods is going to be maintained and innovation is going to be the mantra of the producers of such products.
Yes, the problem rises when youth demand branded commodities from parents or before they can themselves afford it. But such kids have always existed. It is not a new trend. In the old days there were no fantastic brands to ask for. They asked and demanded other things.
Indulgent parents were known to deck their daughters in reams of silk and dripping diamonds. The middle class, of course, always concentrated on education and simple living. The middle class has always lived within its morals and has borne the brunt of societal circumstances.
But today things are changing for the middle class. It is they who form the crux of the IT sector and it is their young, who have a rise in the amount of buying power. Other classes of the society too have increased liquidity, but this is a pleasant change for the middle class to have that extra money on hand.
The rich have always had the economic privilege of frivolities, while the poor are sadly outside of economic realism. But it is the middle class, literally in the middle of an uncontained economic need, which has battled for a long time. This affordability comes as a reprieve to them.
The point is, today the youth are in an economy that offers brands — the nature of which is endemic to our present day. Why blame the youth for making choices and opting for the best, especially when it is within their reach? Why must we believe in minimalist living? It is contrary to what is happening around us.
The economy is not what it was 30 years ago. So is the changing choices of the present generation. Why scorn that?
Like the sexagenarians lived ideally in their times, so are the present young people living ideally in the present.
But if the excesses are what we are worried about, then yes — excessive spending on brands is not wise, but excesses have always existed and these problems will always belong to any generation, only thankfully they are small in number.
Purchase power has increased because the numbers of employees have increased and there is increased workforce. Consumerism is comparatively going to be higher and minimalism is going to be minimal when there is so much of economic activity around us.