Answer to Question #50220 in Macroeconomics for kanchi
“There is a mismatch between man’s ability to produce and social incapacity to utilize”. Explain the meaning of this statement.
XX century’s society can be described as a society of consumption, where a lot of superfluous goods are produced. But the more we consume, the more we pollute. Costumers have become crazy for trendy products. Nowadays there is a huge amount of short-lived items that are thrown away because of our desire to purchase some newest products. It is a new kind of addiction that creates a new XXI century’s society – the society of waste. And it is characterized by the social incapacity to utilize all produced goods and by the creation of more and more rubbish.