Goodbye 'Shop Til You Drop' Mentality: Renegade Band of Economists Call for 'Degrowth' Economy

By Christine MacDonald, AlterNet
Posted on December 23, 2011, Printed on December 24, 2011

In this country, shopping is not just a national pastime. Consumer spending, which makes up about 70 percent of the economy, is a sort of patriotic duty -- never more so than in the last four years of economic malaise.

So news from the National Retail Federation that the country is on track for a record-breaking holiday shopping season -- $469.1 billion in sales, up 3.8 percent from last year -- could only be a good thing, right?

But what if all roads to prosperity don't lead to the shopping mall, as most economists would have us believe? What if, in fact, all that shopping -- and the imperative to grow corporate profits quarter after quarter and continuously expand the economy -- was actually the root of many of the problems we face today?