This work investigates the psychological and societal consequences of the modern consumerist lifestyle and the persistent drive for increased material acquisition. Juliet Schor, a prominent economist and sociologist, utilizes historical data and sociological research to argue that the 'new consumerism' creates a cycle of work-and-spend that diminishes overall well-being. She examines how social comparison and the escalation of lifestyle standards contribute to debt, time poverty, and environmental degradation. The text provides a framework for understanding how individual consumption choices are shaped by broader economic pressures and social status signaling.

Scholars and critics frequently cite this text as a foundational critique of contemporary consumer culture and its impact on social stability. Readers often note the accessibility of the prose, which balances rigorous economic observation with clear, actionable sociological insights.