The "treadmill of consumption" refers to the consumption of material goods in which people think they will become happier just by acquiring more material goods.
People over consume and are never satisfied with what they already have but rather aim for more and bigger things. Under the treadmill of consumption people become very competitive as well as greedy and have the need to over consume in order to feel happier or more gratified. Studies have shown just the opposite that by over consuming does not lead to happiness but rather to the contrary. As people accrue more and more material goods they usually do not become happy or content but rather raise the ladder for more consumption. One day they will realize that all their means have been depleted and happiness has still not been attained.

Moreover, consumption has increased globally due to the growing industries and population. The treadmill of consumption has lead companies to respond to high consumer demands and to produce more consumer goods because they recognize this vicious cycle that so often occurs. This has helped companies become more profitable by keeping the materials plentiful for the needful consumer. Subsequently the environment has suffered in many ways because more and more resources are being obtained from the earth in order to keep up with the consumer output. This is especially true in the energy industry because more energy requires more natural resources which are not infinite.

The theory behind the interlocking treadmills of production and consumption when it comes to schoolwork and striving for the higher education or degree is due to the high demands and standards. Companies today seek individuals who have obtained a higher education in order to be considered for employment whereas, in the past people may have not felt the pressure for the need to obtain a higher education