This book investigates the paradox of why rising material affluence in the United States and Britain since 1950 has coincided with a decline in personal and social well-being. Avner Offer, an economic historian, utilizes a framework combining behavioral economics and evolutionary psychology to argue that the rapid increase in consumer choice has outpaced human cognitive capacity for self-control. By analyzing historical trends in family stability, health, and addiction, the author posits that the modern consumer society creates an environment where immediate gratification undermines long-term welfare.

Scholars and economists frequently cite this work for its integration of historical data with psychological insights into consumer choice. Readers often note the academic density of the prose, which requires a foundational understanding of economic history and behavioral theory to fully appreciate the author's arguments.