In the aftermath of WWII and the Korean War, as Europe and Asian rebuilds, America enjoys an unprecedented period of economic growth and conspicuous consumption.
With the rapid growth of wealth, it became culturally popular to purchase material goods far in excess of people's basic needs.
The original invention of money was a storage of contribution, so that if I do something good, I can get something in return at a later time. They motivation is a continuation of the start of human communities, which is to do stuff for each other.
Over time, the concept of money has become twisted, so that it's the money itself that's respected, instead of the contribution of the person to society. And what better way to display wealth than consumption.
This trend accelerated in the latter half of the 20th century, as people work to retire, so they don't need to work anymore. People want money so they don't have to contribute anymore. Which is a complete reversal of the original purpose of money in the economy.
With the rapid growth of wealth, it became culturally popular to purchase material goods far in excess of people's basic needs.
The original invention of money was a storage of contribution, so that if I do something good, I can get something in return at a later time. They motivation is a continuation of the start of human communities, which is to do stuff for each other.
Over time, the concept of money has become twisted, so that it's the money itself that's respected, instead of the contribution of the person to society. And what better way to display wealth than consumption.
This trend accelerated in the latter half of the 20th century, as people work to retire, so they don't need to work anymore. People want money so they don't have to contribute anymore. Which is a complete reversal of the original purpose of money in the economy.