Over at the blog of the Catholic University of America’s School of Business and Economics, Drs. Chad and Brian Engelland, authors of an article on consumerism and the cardinal virtues for an upcoming issue of the Journal of Markets & Morality, share their insights on the challenge of consumerism in a commercial society:
Is consumerism an inevitable by-product of capitalism?
Brian: Capitalistic systems do come with the inherent risk that the acquisition of private property can turn into an excessive drive for money, power and prestige, rather than as a means for authentic human development. But people living in socialistic economic systems also fall victim to consumerism.
Chad: Companies provide many goods and services that solve genuine problems and improve lives. But consumerism trains us to think of products as the solution to all our problems, and to think about only problems that advertised products might be able to solve. Practice of the cardinal virtues offers us an antidote. Our article is intended to help both consumers and producers avoid this ever-present possibility. The cardinal virtues enable us to engage in business and buy products without compromising human development and happiness.