Peter Lavelle and his CrossTalk guests discuss the nature of modern consumerism. One of the defining characteristics of modern life is mass consumption. Western lifestyles are being adopted globally. But with the advent of the global recession will those who were once rich now have to live more modestly?
I'm still waiting for my chance to live a little less modestly...
Lew Rockwell makes some good points about the central banks and the low interest rate driven consumption that punishes saving and investment, without which real prosperity is impossible in the long run.
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