The Origins and Evolution of Consumer Capitalism av John P. Watkins

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<P>Consumer capitalism arose with the second industrial revolution, the application of continuous-mass production to consumer goods during the late nineteenth and early twentieth centuries. This book adopts a Veblenian, Keynesian viewpoint, presenting an evolutionary view of consumption combined with the need to increase demand to match increases in production. The book traces the history of consumer capitalism, examining the paradox posed by applying continuous-mass production to produce armaments for dynastic ambitions versus consumer goods for the masses, manifesting itself in the world wars of the twentieth century. Multiple paradoxes at the heart of the story address booms leading to busts, over-producing countries in Asia relying on over-consuming countries in the West, and the expansion of demand depending on increasingly inventive ways of liquefying assets, in light of stagnant incomes. The book persuasively argues that these paradoxes result from capitalism¿s incessant drive t