How the Consumer Culture Can Impact Mental Health

I came of age in the 1980's. It was a time characterized by economic expansion, individualism, and of course MTV. The consumer culture proliferated, driven by deregulation, tax-cuts, and a relentless focus on free-market capitalism.

The culture seemed to celebrate individual wealth creation, often to the detriment of personal relationships. The infamous "greed is good" mantra became a kind of religion. Economic success became synonymous with personal worth.

Fast forward 40 years...

Consumer spending in the U.S. accounts for nearly 70% of GDP, versus 61% in the 1980s —a staggering increase from an already staggeringly high number. A variety of factors account for the increase, including income growth and inflation, expansion of credit and debt, as well as an increase in spending on services.

This focus on accumulation of wealth and material goods can have complex effects on mental health, often leading to challenges that are counterintuitive given the expectation that wealth brings happiness and comfort. Here’s a look at some of the mental health impacts and how the consumer culture can impact mental health.

• Increased Anxiety and Stress

  The pressure to maintain or grow wealth can lead to high levels of chronic stress and anxiety, as wealthier individuals often feel a need to protect their assets and continue outperforming. As materialistic goals rise, there can be a constant comparison with others, leading to feelings of inadequacy or fear of losing social status, even among those who are well-off.

  
  

• Running on a Treadmill

  Quickly returning to a baseline level of happiness regardless of positive changes, like increased wealth or new possessions, can lead to a perpetual feeling of dissatisfaction. The pleasure from new purchases or status gains fades, driving the need for more acquisitions to recapture that initial boost of happiness.

  
  

• Social Isolation

  A focus on accumulating wealth and things can lead to social isolation, as it may come at the expense of nurturing close relationships and spending time with family or friends. Research has shown that materialism is negatively correlated with relationship satisfaction. People who prioritize material wealth may experience fewer meaningful social connections, which can lead to loneliness and, in some cases, depression.

  
  

• Increased Risk of Depression

  Materialism is associated with higher rates of depression. Studies indicate that people who prioritize wealth or possessions often report lower life satisfaction, as they may derive their self-worth from external validation rather than internal fulfillment. The pursuit of material wealth can become all-consuming, and when individuals experience financial or career setbacks, they are more susceptible to depressive symptoms because their self-worth is tied closely to their material success.

  
  

• Perfectionism and Burnout

  Wealth accumulation can bring a sense of perfectionism where people constantly feel they must reach the next level of success or wealth, leading to chronic burnout. The pursuit of more wealth or goods can become a cycle of unachievable goals, leaving people feeling exhausted and mentally drained. This can be especially prevalent in high-pressure industries like finance or entrepreneurship, where the demands for success are relentless.

  
  

• Loss of Intrinsic Motivation and Happiness

  Excessive materialism can erode intrinsic motivation (doing something for personal fulfillment), replacing it with extrinsic motivators like status and wealth. When people are focused on external rewards, they’re less likely to engage in activities that bring true happiness or meaning (e.g., spending time with loved ones, pursuing hobbies), leading to a sense of emptiness and low fulfillment.

  
  

• Impaired Identity and Self-Worth

  When people tie their identity and self-worth to wealth or possessions, they may experience a lack of internal validation. This external dependence can lead to identity crises, especially in times of financial uncertainty. Research shows that materialistic values are often associated with lower self-esteem and greater vulnerability to external opinions and societal pressures.

So, is "greed" good? At a minimum, it comes with some unhealthy by-products.

There are other approaches to happiness. Focusing on non-material goals—such as personal growth, relationships, and contributing to others—can help reduce the mental health challenges associated with materialism. Practicing gratitude, prioritizing experiences over possessions, and investing in relationships rather than goods are all proven ways to foster mental well-being while avoiding the pitfalls of material wealth.