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Much of the debate over how to address the economic (http://www.designer-cheap.com/)crisis has focused on a single word: regulation. And it's easy to understand why. Bad behavior by a variety of businesses landed us in this mess—so it seems rather obvious that the way to avoid future economic meltdowns is to create, and vigorously enforce, new rules proscribing such behavior.1 But the truth is quite a bit more complicated. The world economy consists of billions of transactions every day. There can never be enough inspectors, accountants, customs officers, and police to ensure that all or even most of these transactions are properly carried out. Moreover, those charged with enforcing regulations are themselves not immune to corruption, and, hence, they too must be supervised and held accountable to others. The upshot is that regulation cannot be the linchpin of attempts to reform our economy. Instead, what needs to be eradicated, or at least greatly tempered, is consumerism: the obsession with acquisition that has become the organizing principle of American life.This does not require that one reject capitalism, nor is ...
... it the same thing as ending consumption. As long as consumption is focused on satisfying basic human needs— safety, shelter, food, clothing, health care, education—it is not consumerism. When the acquisition of goods and services is used to satisfy higher needs, such as self-esteem and self-actualization, however, consumption turns into consumerism—and consumerism becomes a social disease.A culture in which the urge to consume dominates the psychology of citizens is a culture in which people will do anything to acquire the means to consume—working slavish hours, behaving rapaciously in their business pursuits, and even bending the rules in order to maximize their earnings. They will buy homes beyond their means and think nothing of running up credit-card debt*. It therefore seems safe to say that consumerism is, as much as anything else, responsible for the current economic mess. But it is not enough to establish what people ought not to do, to end the obsession with making and consuming ever more than the next person. Consumerism will not just magically disappear from its central place in our culture. It needs to be supplanted by something.Profound transformations" in the definition of "the good life" have occurred throughout human history. Before the spirit of capitalism swept across much of the world, neither work nor commerce was a highly valued pursuit. For centuries in aristocratic Europe and Japan, making war was a highly admired profession. In China, philosophy, poetry, and brush painting were respected during the heyday of the literati." Religion was once the dominant source of normative culture; then, following the Enlightenment, secular humanism was viewed in some parts of the world as the foundation of society. In recent years, there has been a significant increase in the influence of religious values in places like Russia and, of course, the Middle East. It is true that not all these changes have elevated the human condition. The point is merely that such change, especially during times of crisis, is possible.True, it is sometimes hard to tell a basic good from a status good, and a status good can turn into a basic one (air-conditioning, for instance). However, it is not a matter of cultural snobbery to note that no one needs inflatable Santas or plastic flamingos on their front lawn or, for that matter, lawns that are strikingly green even in the scorching heat of summer." No one needs a flat-screen television, not to mention diamonds as a token of love or a master's painting as a source of self-esteem.Consumerism afflicts not merely the upper class in affluent societies but also the middle class and many in the working class. Large numbers of people across society believe that they work merely to make ends meet, but an examination of their shopping lists and closets reveals that they spend significant parts of their income on status goods such as brand-name clothing, the "right" kind of car, and other assorted items that they don't really need.This mentality may seem so integral to American culture that resisting it is doomed to futility. But the current economic downturn may provide an opening of sorts. The crisis has caused people to spend less on luxury goods, such as diamonds and flashy cars; scale back on lavish celebrations for holidays, birthdays, weddings, and bar mitzvahs; and agree to caps on executive compensation. Some workers have accepted fewer hours, lower salaries, and unpaid furloughs(http://www.top-watches-brand.com/)
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