10 Myths About Consumer Capitalism

1. It is imperialistic.

Definitely not, consumer capitalism is simply a way to ascribe a dollar value to human endeavour or work.

2. It can provide stability.

No, no and no. Consumer capitalism economies are by nature unstable. Even though a lot of goods and services are produced, there is no way to hold on to the wealth. Instead the wealth is constantly under threat because of other people wanting what you have.

3. A high savings rate isn’t possible in consumer capitalism.

Not true. There are some countries that combine consumer capitalism with high savings rate, thereby spreading the wealth through society via micro loans, and other consumer oriented debt schemes.

4. Consumer capitalism cannot solve problems of the environment, governance or quality of life for old or infirm people.

Not true. Consumer capitalism if used with some degree of control and regulation, can help solve all of the above.

5. A religion isn’t possible in consumer capitalist societies.

Again, not true. In fact people become more religiously identified in such societies.

6.  Consumer capitalism can solve the problems of third world countries such as water, education or energy.

Unless consumer capitalism is coupled with skills training, it truly cannot solve the above important issues.

7. Consumer capitalism means selling water, air and land

No. absolutely not. Capitalist society that is based on knowledge and communication does not have to monetize any natural resources. In fact consumer capitalism’s next evolution would be to make natural resources common goods that are shared by all.

8. Without an authoritarian or ideologically inspired government, consumer capitalism will make people into commodities.

Fact is that authoritarian and ideologically inspired governance, work very well with consumer capitalism. A sense of authority coupled with emotion can make people work very hard for no real reason except that an authority figure said so. Dad is always right.

9. Without consumer capitalism, the world will be a better place.

It is a little late for this kind of argument, don’t you think? especially since your whole life is a product of it.

10. There is no end to consumerism.

There could be some truth to that, but pragmatically speaking, lots of falsity. Studies show that when people have too many options they get very stressed out and instead of motivating them, it demotivates them. Demotivation= total disaster for capitalism. Reduce, recycle, and re-use, and actually reduce options can enhance overall wealth. Enhanced quality, increased engagement and new authority figures can give new life to an old and stuck economy. Some of this is already happening!