The Psychology of Consumerism Emerges

In 2002, film documentarian Adam Curtis produced a remarkable series entitled “The Century of the Self,” dissecting the rise of consumerism and the mechanisms of influencing and manipulating consumer behavior.[1]

Interspersing archival footage with commentary and factoids, Curtis explored the application of Freudian theory, specifically the exploitation of the self, not as a vehicle for liberation, but as a tool of manipulation wielded by marketers and politicos to power mass-consumerism.

Essentially, by developing techniques to explore the subconscious, Freud unleashed methods that could be applied to mine the hidden recesses of the mind of the masses. His important work, today, has created the basis for entire fields of mass influencing, some say manipulation, positioned to create endless versions of market controlled happiness, and how people value themselves and others.

“The Century of the Self” is an extrapolation of the theories of Sigmund Freud, the founder of psychoanalysis, focusing on the way in which public relations experts and politicians have leveraged Freud’s theories for the “engineering of consent,” among other constructs, in order to control and influence opinion. Removing this conversation from the political arena, there are several Freudian theories that can be directly applied to the FP’s world.

By viewing this documentary and delving deeper into Freudian theory, financial professionals can achieve a greater understanding of how materialism and consumerism interact and ultimately impact financial decision making processes and client management. Understand the psychology behind influence can be a useful tool in the savvy FP’s toolkit.

Conservatism and conformity were the standards for Western culture in the early to mid-20^th century. Then marketers and politicians began to understand that it was actually individualism, the personal quest for a unique identity, which resonated much more effectively with the consumer or voter.

Curtis explains how politicians on the left, in both Britain and America, perfected techniques developed by business to tap into the internal desires of the self. The modern focus group was created, and  simulated from practicing psychoanalysts. By gaining a glimpse into these desires, politicians could modify messages to make them much more digestible for mass consumption.