The term "consumerism" would pin the tag where it actually belongs—on Mr. Consumer, the real boss and beneficiary of the American system. It would pull the rug right out from under our unfriendly critics who have blasted away so long and loud at capitalism. Somehow, I just can't picture them shouting: "Down with the consumers!"[8] ”
Bugas's definition was in line with Austrian economics founder Carl Menger's vision (in his 1871 book "Principles of Economics") of consumer sovereignty, whereby the economy is controlled entirely by consumer preferences, valuations, and choices (a concept directly opposed to the Marxian perception of the capitalist economy as a system of exploitation).[9]
Vance Packard worked to change the meaning of the term "consumerism" from a positive word about consumer practices to a negative word meaning excessive materialism and waste.[10] The ads for his 1960 book The Waste Makers prominently featured the word "consumerism" in a negative way.[10]