America’s Problem With Consumerism Is The Government’s Fault
28th December 2024
At the end of every year, as we make our way through the holidays, you’ll hear no shortage of complaints about the rampant hyper-consumerism at the heart of modern American society. And these complaints aren’t without merit. Flip on the TV or walk through any city’s commercial district before Christmas, and it’s easy to get the impression that the entire American concept of familial love rests on how much stuff we buy for each other.
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But before condemning that as a “moral failure” of the American people, it’s important to understand that this is the sought-after result of our government’s policies.
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Today, with full control over the supply and value of money, the United States government has settled on a policy that aims to bring about permanent price inflation. They do this by printing money and injecting it into the economy through the credit markets. Doing so transfers a lot of wealth to the political class and creates the recurring nightmarish cycle of economic booms and recessions. But it also has profound effects on the public’s behavior.
Because permanent price inflation punishes people for saving. Money loses its value over time, meaning—in a reversal of how it’s worked for almost all of human history—money saved today will not be able to purchase as much in the future.