Labor Day Weekend is over and it's the real beginning of the new year (January 1 is just a calendar detail). It's also the beginning of what's known as the "silly season," aka the election season leading up to the U.S. midterms.
Observing the campaigns can be dizzying: careening polls, conflicting policies, appalling ads. Since it's often said that "politics is downstream from culture," maybe it's past time to re-examine our culture. As Praxis Circle Contributor Michael Novak once asked:
"What would it profit the human race if we were to achieve a higher level of political and economic liberty than ever before, only to live like pigs, enslaved to our desires without reflection and deliberation? This would be a travesty, for it is not only our political and economic systems that must be worthy of our human nature, but also our habits of moral living."
What habits does our Western culture promote these days? Self-discipline, self-restraint, or even mere moderation? As Contributor Dr. Anne Bradley states, "There's no macro-economics without micro-economics," so the financial habits inculcated into individuals (micro) by our culture will ultimately have a large effect on our governmental (macro) policies and politics.
We currently see our culture promoting hyper-consumerism, personal financial consequences be damned. According to the New York Fed, U.S. "credit card balances saw their largest year-over-year percentage increase in more than twenty years." While some of this may be due to inflation and its effect on average households to even buy gas and groceries, it undoubtedly also reflects our desire to buy, buy, buy, regardless of our ability to pay, pay, pay.
With the onslaught of social media advertising (in service of all those digitally-perfected ideal images), the U.S. advertising industry projects 13% growth in 2022 in ad spending for a total of over $300 billion for the first
|