The Cost of More: Consumerism, Sustainability, and the Limits of Growth
Consumerism originated more than two hundred years ago when the Industrial Revolution enabled mass production. It is now a dominant force in advanced economies, further fostered through mass communication. Despite its role in driving globalization, technological advancement, and cultural exchange at an unprecedented rate, it is now pushing us toward the edge of materialism.1 This economic and social trend of blindly promoting more consumption of goods and services poses challenges to sustainability and long-run growth, tipping us off the balance between human needs and limited natural resources. On the consumers’ side, consumerism prioritizes immediate gratification over long-term financial security. By cultivating a "buy now, pay later" scheme2, consumerism encourages consumers to purchase beyond their means, resulting in debt and economic crises.3 A lowered household savings, and hence lower investment, hinders long-run economic growth. Highlighted by the Solow-Swan model...