Consumerism In Sri Lanka Economics Essay

At the coming of globalisation many other socio economical facets have sprang up either straight or indirectly related to the globalisation procedure. One such phenomenon is consumerism which defines the facet of a particulate society consistently following of all time increasing desires to buy goods and services even in greater Numberss. Economically it refers to all the policies in topographic point to advance ingestion. Consumerism is about informing consumers, protecting them through such patterns as honest packaging, warrants and advertisement. This is geared to improved safety criterions. The & A ; lsquo ; Mahinda Chintana ‘ vision for the hereafter has become the footing upon which the Sri Lankan economic system is projecting to. In this vision it is postulated that Sri Lanka faces two economic challenges viz. that the present economic benefits and turning economic prosperity filter down to the people and secondly the puting down of a long term sustainable development foundation.

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Sri Lanka is seeking to redefine herself as an air power, commercial, naval, cognition and energy hubs which will function as a cardinal links between the East and West.

It is assumed that this will be achieved based on Sri Lanka ‘s strategic geographical location. At face value this appears to be the truth. Sri Lanka ‘s dodo fuel based human civilisation soon is based on consumerism and mobility.

Consumerism in Sri Lanka is already puting demands on the energy sector which is now confronting major challenge over the following decennary with the demand to get down bring forthing & A ; lsquo ; green energy ‘ which must be done while keeping security of supply every bit good as at the same time minimising the cost to the client.

Meanwhile with all this in the murdering the predicament of the Tamil people is still an issue that elicits negativeness towards the authorities of Sri Lanka. This struggle has continued to impact the international dealingss that Sri Lanka has had straight impacting consumerism.

The vision for the hereafter ‘ statement rather justly says that the ‘comforts, convenience and satisfactory life manners ‘ which are dogmas of consumerism are precedence. There is a program to make ‘a state with lodging, electricity, H2O and telecommunication services for every citizen ‘ . In add-on it is necessary to acknowledge strategic geographical location related new strengths for the sustainable development of Sri Lanka ( Abeygunawardana, 2010 ) .

In a broad economic system consumerism as a construct will play a major function. This in bend reduces the cost of populating while supplying citizens with consumer points of high quality at low-cost award. In the West consumerism is a powerful construct. By forming themselves with the media and civil society endorsing consumers can do their voice heard. In other parts of the universe excessively consumerism is vivacious and powerful with the exclusion of Sri Lanka where this construct is still in the crude phases. The Asiatic consumer will necessitate to borrow and pass more non less ( Asia Focus, 2006 )

In drumhead while looking at consumerism in Sri Lanka we good must understand that the consumer ‘s activities are non in isolation. A contributing economical environment must be for consumerism to be realized. However with Sri Lanka there is yet to be both a stable internal and external environment in which consumerism can boom. Honesty and transparence are of great value in many concern enterprises but are a rare happening in present twenty-four hours Sri Lanka. Consumers on their portion are required to sometimes gestural clean documents in which the contents are written in a linguistic communication non understood ( Wijesinghe, 2010 ) .

Mentions

Abeygunawardana, A. ( 2010 ) . Vision for the hereafter: Consumerism or frugalness. The Daily

Mirror.Retrieved on 27th April 2010
from hypertext transfer protocol: //www.dailymirror.lk/print/index.php/opinion1/4181.html

Asia Focus ( 2006 ) : Asiatic Consumerism More non Less Retrieved on 27th April 2010
from hypertext transfer protocol: //www.hktdc.com/info/mi/a/ef/en/1X009KIU/1/Economic-Forum/Asia-Focus-Asian-Consumerism-More-Not-Less.htm # 2

Wijesinghe, S. ( 2010 ) . Is your money managed by others truly belong to you? The Sri Lankan Guardian. Retrieved on 27th April 2010
from hypertext transfer protocol: //www.srilankaguardian.org/2010/03/is-your-money-managed-by-others-really.html

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