Consumerism isn't a sellout - if capitalism works for all

Consumers need protection from dishonest sellers, and the market needs protection from monopolies and cronyism

"Love? Love fades away. But things? Things are forever." So says Tom, played by Aziz Ansari, in a scene from Parks and Recreation. The phrase has become a meme, a tongue-in-cheek defense of modern materialism.

The essential thinginess of capitalism has been one of its most-criticized features. Materialism, and specifically consumerism, are almost always used as pejorative terms. Nostalgic conservatives, egalitarian progressives and environmentalists loudly agree on at least one thing: we are just buying too much stuff.

It is not whether we consume things that matters, but how we do.

Consumers need protection from predatory, corrupt, or dishonest sellers; the market needs protection from monopoly power

The problem comes when companies become so large they can defend themselves with economic "moats" against competition.

Richard Reeves is the author of Dream Hoarders and a senior fellow at Brookings Institution.

Read more from the Broken Capitalism series, guest-edited by Richard Reeves.