After seeing the last post here at recycled minds, I was pleasantly surprised to see this line of thought expressed somewhere in the media. The U.S. lifestyle based on a never-ending cycle of the consumption of goods that are designed to be dysfunctional or obsolete not long after purchase is bad enough. When you tie in the credit debt that people have been enticed to take on in order to participate in this lifestyle, there enters in a certain level of unpredictability. We have now witnessed one possible outcome - the failure of numerous financial institutions and an impending recession and maybe depression. This cycle also serves to keep people tied to their debt, unable and unwilling to risk the loss of these products - products that have now extended to automobiles, homes, and even the weekly grocery bill for some. It serves to render the populace mute and ineffective - unable to participate in protest or actions of change. All of this leaves out the rest of the world that happens to be feeling the effects of our bumbling economy; it leaves out the rest of the world that has felt the effects of the creation of that economy.
Economists generally contend that economic development occasions some undesirable side effects, but they accept the enlightenment mantra that material progress breeds moral progress. A short laundry list of grievances would include the following indictments. Contemporary capitalisms are hegemonic in nature, and promote cultural homogenization; this massive reduction of diversity is considered both morally reprehensible and evolutionarily maladaptive. Globalization constitutes the enrichment of the core and the immiseration of the periphery. Ethnocide is waged via systematic cultural dislocation, and the spread of iatrogenic diseases integral to development. Ecocide is perpetuated through pollution and climate change. Materialism elevates acquisitiveness to a cultural syndrome, and the continued democratization of luxury promotes the endless escalation of insatiable want. Spectacle fosters distraction and complacency, encouraging a compliant citizenry. Consumer debt arises through and reinforces dysfunctional socialization and promotes a kind of indentured servitude. And so forth...