The Now Economy

“Over the past century, and especially the past four decades,” argues Paul Roberts, “we have created a sophisticated, self-feeding socioeconomic system that is marvelously efficient at catering to our desires.” He reflects on how an instant-gratification culture led us to an “Impulse Society”:

If we could step back a century, before the rise of the consumer economy, we would be struck not only by the lack of affluence and technology but also by the distance between people and the economy, by the separation of economic and emotional life. People back then weren’t any less wrapped up in economic activities. The difference lay in where most of that activity took place. A century ago, economic activity occurred primarily in the physical world of production. People made things: they farmed, crafted, cobbled, nailed, baked, brined, brewed. They created tangible goods and services whose value could be determined, often as not, by the measurable needs and requirements of their physical, external lives.

That relationship changed with the rise of the consumer economy.

Sophisticated, large-scale industrial systems assumed the task of making many of the things we needed, and also began to focus on the things we wanted. As the consumer economy matured, an ever-larger share of economic activity came from discretionary consumption, driven not by need but by desire, and thus by the intangible criteria of people’s inner worlds: their aspirations and hopes, identities and secret cravings, anxieties and ennui. As these inner worlds came to play a larger role in the economy—and, in particular, as companies’ profits and workers’ wages came to depend increasingly on the gratification of ephemeral (but conveniently endless) appetites—the entire marketplace became more attuned to the mechanics of the self. Bit by bit, product by product, the marketplace drew closer to the self.