Growing up in Los Angeles, a child quickly learns the difference between the 'haves' and the 'have nots,' and where his or her family stands in that paradigm. A child also quickly learns how crucial a role consumerism plays in his or her social life; this microcosm of materialism is what Lauren Greenfield explores in her documentary 'Kids + Money.'
'Kids + Money' is currently showing on HBO, and Lauren Greenfield examines the relationship that 13 Los Angeles children have with money.
As you might imagine, the documentary's findings are astounding, but the children aren't all at fault. Although the teens of 'Kids + Money' certainly feed off of each other's materialism, their parents certainly enable their behavior and reinforce their belief in the power of wealth.
What's Driving This Trend
- Antisocial-consumerism
- The trend of rejecting materialism and focusing on intangible values and experiences is disrupting the consumerism paradigm.
- Financial-literacy-education
- The trend of teaching children financial literacy and money management skills from a young age has disruptive innovation opportunities in the education industry.
- Ethical-consumerism
- The trend of consumers demanding ethical and socially responsible practices from businesses is disrupting industries across the board, with opportunities for companies to align with these values.
Who This Affects Most
- Education
- The education industry has an opportunity to disrupt the way financial literacy is taught in schools, ensuring that children are better equipped to manage their finances as adults.
- Retail
- The retail industry can benefit from aligning with consumers demanding socially responsible and ethical business practices, and incorporating this into their supply chains and operations.
- Media
- The media industry has the opportunity to produce more documentaries and content that raises awareness about the negative effects of consumerism on children, and inspires positive change in society.
