Economic materialism

Also called acquisitiveness, it is often associated with a value system that regards social status as being determined by affluence (see conspicuous consumption), as well as the belief that possessions can provide happiness, which has been critiqued as a lie brought about by capitalism.

"Success materialism" can be considered a pragmatic form of enlightened self-interest based on a prudent understanding of the character of market-oriented economy and society.

From the 1970s to the late 1990s, the percentage of students who stated that their main reason for going to college was to develop a meaningful life philosophy dropped from 73% to 44%, while the purpose of obtaining financial gain rose from about 44% to 75%.

[9][10][11] Studies in the United States have found that an increase in material wealth and goods in the country has had little to no effect on the well-being and happiness of its citizens.

[12][13] Tibor Scitovsky called this a "joyless economy" in which people endlessly pursue comforts to the detriments of pleasures.

This suggests that materialism in interdependent, community-oriented cultures, like in China and Japan, may improve well-being and happiness rather harm them.