A research on practical significance of productivity theory in consumption society

Abstract

This paper systematically elaborates the theory of productivity in consumption society, the mainstay theory in Dr. Bingxin Wu’s (Wu, 1997, 2008, 2011, 2013, 2015 & 2017) comprehensive consumption theoretical system. An analysis on history and current academic situation of the western consumption theory is employed to explore the defects and shortages of the existing consumption theory. The emphasis of the paper is on the academic significance and practical significance of the consumption society productivity. The paper also explains in detail the practical importance of productivity theory in guiding consumption society and provides evidences discovered from the continuous rapid development of the Chinese economy.