There is ongoing debate on consumer cultural needs, and consumer behaviour or spending in the global market.
Global cultural preferences have taken over from local tastes and the way of spending leading to a cross cultural
homogenization (Levitt, 1983). Reducing cultural diversity will entail an inter-temporal welfare tradeoff if the ideas
of cross cultures are imperfect substitutes in production of the quality of future cultural goods (Rauch & Trindade,
2009).