MATERIAL AND ECONOMIC

SELF
UNDERSTANDING THE SELF
This section focuses on how people
maintain extensions of themselves
through material possessions and
maintenance of particular lifestyles. In
the context of what the society
values as needs and wants, this
section discusses how an individual
acquires goods, the factors that
shape his/her economic decisions, and
what these things say about one’s
sense of self.
People are likely to purchase
products that can relate to their
personality. Material possessions
signify some aspects of one’s sense
of self and identity.
Possessions, tell a lot about their
owners. Thus, one’s sense of self and
identity is influential on how an
individual chooses to purchase
his/her wants and how he/she makes
economic decisions that will address
his/her personal and social needs
The decisions that go into the
purchase of items and certain
services is dependent on a number of
factors, including financial
constraints, availability of items and
services, and the influence of family
and friends.
However, the most important factor
is determining whether these items
and services fall under:
WANTS. Synonymous with
luxuries. People buy them for
reasons that do not warrant
necessity.
NEEDS. These are important for
survival. Food, clothing, and shelter
are basic needs so people
purchase them out of necessity.
To further understand the term
significance, ROLAND BARTHES
studied the concept of semiology or
the study of signs. According to him, it
is through objects that people assert
their identities. This idea suggests that
objects, aside from contributing to how
an individual identities himself/herself,
also signify relationships of people with
others based on what they possess.
The possession of material things also
indicates one’s status in the society.
These personal choices build one’s
material and economic self which is an
extension of his/her social identity.