Abstract
The importance of consumption in modern societies is constantly growing. To guide consumer oriented policy, a model of consumption is needed which reflects consumers increased significance. The model of consumption prevailing in the theory of market economies as well as in consumer policy was traditionally based upon the notion of consumers sovereignty. This model served both as a description and as the ethical foundation of the market economy. In the first part of this paper, the authors show the need for a new model of consumption by making clear the descriptive and normative shortcomings of consumer sovereignty. In view of the reality of modern societies, it is neither possible nor ethically justifiable to make purchase decisions according to the individual maximization of utility only. The second part presents the idea, the ethical foundation, and the contents of the new model of "sustainable consumption." This model is proposed to serve as a guideline for both responsible consumers and consumer policymakers and for all institutions concerned with the creation of a sustainable development.
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