The Origins and Evolution of Consumer Capitalism: A Veblenian-Keynesian Perspective

The growth of consumer capitalism has led to global military conflict, economic cycles, and environmental crises. It combines heterodox economic theory with global case studies to provide a comprehensive analysis of its history.

Format: Paperback / softback
Length: 220 pages
Publication date: 11 April 2023
Publisher: Taylor & Francis Ltd

The growth and expansion of consumer capitalism have played a significant role in the emergence of global military conflicts, the occurrence of boom and bust economic cycles, and the persistent challenges posed by environmental degradation. This thesis explores the intricate connections between consumerism, economic systems, and geopolitical dynamics, shedding light on the underlying factors that have contributed to these complex and interconnected phenomena.

Combining heterodox economic theory, particularly the insights of Keynes, Veblen, and Minsky, with comprehensive global case studies, this thesis offers a comprehensive analysis of the history of consumer capitalism. It examines the historical roots, evolution, and consequences of consumer-driven economic models, exploring how they have shaped societies, economies, and political landscapes across the globe.

The rise of consumer capitalism has been closely linked to the development of industrialization and the expansion of global trade. As societies have become increasingly interconnected, the demand for consumer goods has soared, leading to the growth of multinational corporations and the emergence of global supply chains. However, this growth has also come at a cost, as it has led to environmental degradation, resource depletion, and social inequality.

One of the key arguments of this thesis is that consumer capitalism has created a culture of consumption that prioritizes short-term gains and instant gratification over long-term sustainability and social well-being. This culture has led to a race to the bottom, where companies compete for market share by producing cheap goods at the expense of environmental and social standards. As a result, we have witnessed the proliferation of pollution, deforestation, and climate change, which have severe consequences for human health, the environment, and the global economy.

Another aspect of consumer capitalism that contributes to global military conflict is the arms race. As countries seek to enhance their military capabilities and protect their interests, they often rely on the production and sale of weapons and military equipment. This arms race not only drains resources and exacerbates social inequality, but it also increases the risk of conflict and instability.

Furthermore, the boom and bust economic cycle that characterizes consumer capitalism has also had significant consequences for global economic stability. The pursuit of short-term profits and the accumulation of debt has led to frequent economic crises and recessions, which have impacted millions of people worldwide. These cycles not only undermine economic growth and job creation, but they also exacerbate social unrest and political polarization.

To address these challenges, it is essential to consider the role of government and policy in shaping consumer capitalism. Governments can play a crucial role in regulating the activities of multinational corporations, promoting sustainable consumption practices, and investing in renewable energy and infrastructure. Additionally, policies aimed at reducing income inequality, promoting social mobility, and investing in education and healthcare can help to mitigate the negative consequences of consumer capitalism and create a more sustainable and equitable future.

In conclusion, the growth and expansion of consumer capitalism have played a significant role in the emergence of global military conflicts, the occurrence of boom and bust economic cycles, and the persistent challenges posed by environmental degradation. This thesis explores the intricate connections between consumerism, economic systems, and geopolitical dynamics, shedding light on the underlying factors that have contributed to these complex and interconnected phenomena. By recognizing the harmful effects of consumer capitalism and implementing policies that promote sustainable consumption and social well-being, we can work towards creating a more peaceful, prosperous, and sustainable world.

Weight: 378g
Dimension: 155 x 234 x 16 (mm)
ISBN-13: 9781138335462