Note: This is the latest entry in the Acton blog series, “What Christians Should Know About Economics.” For other entries in the series see this post.
The Term: Consumption
What it means: Consumption is the use of goods and services by households.
Why it Matters: Consumption is an ugly word for a beautiful concept.
Since the Middle Ages, the word “consumption” has referred to wasting diseases, such as tuberculosis, which “consume” the body. More recently, consumption has often been confused with consumerism, a useful and related term that has regrettably taken on a wholly negative connotation.
But in its most basic economic sense, consumption is a purely neutral term that refers to the use of goods and services by households. If you arrange for a babysitter to watch your toddler so that you can eat a steak dinner with your spouse, you are “consuming” both goods (the steak) and services (the babysitter’s time and attention). While you pay for these goods and services it’s merely their use that marks them as “consumption.” (We’ll come back to that point in a moment.)
Consumption is arguably the first (or maybe second) economic concept mentioned in the Bible. After creating Adam and Eve and giving them the cultural mandate (“Be fruitful and increase in number; fill the earth and subdue it.”), God says to them,