The French philosopher Jean Baudrillard wrote in 1970 that consumption had become the axis of culture. The “consumer society” was born. Its midwife was cheap credit. For the first time, ordinary people like my parents didn’t have to wait to buy something until they’d saved up enough money. They got it on the never-never.
Even so, for a time they mostly bought only what they absolutely needed. If we did the same today the economy would collapse overnight."Wasting Away"