NO ETHICAL CONSUMPTION UNDER ADVANCED CAPITALISM: THE ECONOMICS OF ETHICAL CONSUMPTION AND WHEY FAST FASHION IS THE ANTITHESIS

This paper aims to investigate the popular phrase “there is no ethical consumption under capitalism,” and to uncover if there is any validity to this statement. Additionally, this paper looks at what ethical consumption is and why it matters before going on to apply these concepts to the fast fashion industry to explore how fast fashion might be the antithesis of ethical consumption. Through analyzing a few of the current systems that the United States is operating under, a market economy and advanced capitalism, lines can be drawn between the ethical consumer and the potential for ethical consumption to exist. Currently, a market economy only accounts for the private costs, not taking into account either the negative externalities (i.e. pollution) or the positive externalities (i.e. fair labor laws) that happen when a consumer either buys fast fashion or shops ethically, respectively. Additionally, the market economy and advanced capitalism are the two systems that work to uphold the fast fashion industry and allow it to thrive as it has been in recent years. Finally, in order to move society toward ethical clothing consumption, either the negative externalities need to be accounted for (by imposing fines on fast fashion companies) or the positive externalities need to be accounted for (by offering subsidies for ethical clothing companies). Overall, the analysis shows that as it stands right now, ethical consumption cannot systematically exist without some sort of government intervention.

Keywords: Ethical Consumption, Consumerism, Sustainability, Fast Fashion, Capitalism