The Vicious Cycle of Mass Markets

1280px-Thessaloniki-Vlali_Market-300x225 The Vicious Cycle of Mass MarketsIt is readily admitted that mass markets have yielded great abundance. However, philosopher and culture critic Mark C. Taylor claims that the cycle of production and consumption can also lead to imbalance. He writes:

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“We have seen that the rationality of markets requires efficiency, which, in turn, depends on speed. As markets become more rational, they accelerate, and as they accelerate, they become more efficient. At a certain point, however, production becomes so fast and efficient that it is excessive. The only way to deal with the irrationality and inefficiency of overproduction is through overconsumption. This requires consumers to borrow and Subscription5.2-300x300 The Vicious Cycle of Mass Marketsspend money they don’t have for stuff they don’t need.” (Mark C. Taylor, Speed Limits: Where Time Went and Why We Have So Little Left, Yale University Press, New Haven, 2014, p. 157)