- Elgar original reference
Edited by John B. Davis and Wilfred Dolfsma
Chapter 8: The Socio-economics of Consumption: Solutions to the Problems of Interest, Knowledge and Identity
8 The socio-economics of consumption: solutions to the problems of interest, knowledge and identity Metin M. Cos gel ¸ Consumption is a social activity. Although economics textbooks typically portray the choice of a consumption bundle simply as the solution to a constrained maximization problem with given preferences, social economists have variously expanded the basic theory of choice and oﬀered alternatives to it based on insights from heterodox approaches and other disciplines. They have shown that consumption choices not only maximize utility but also display wealth, express beliefs and maintain identity. There are numerous comprehensive reviews of the enormous multidisciplinary literature on consumption.1 Rather than aim at a similar standard review of this literature, it would be more appropriate for this volume to adopt a distinct approach in evaluating socio-economic contributions. An approach that has been useful in studying various economic phenomena, helping to shed new light on old problems and to discover new problems for further exploration, is to view the economy as conversation. To sustain a coherent line of thought throughout the review, I adopt this approach in studying consumption and interpret previous social economic studies of consumption as investigations of behavior and institutions that contribute to these conversations. I organize these studies into a coherent whole and distinguish between conversations according to the type of problem they aim to solve. Identifying three types of conversations relevant to the study of consumption – solving the problems of interest, knowledge and identity – I discuss the main themes and important contributions in...
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.