ABSTRACT
This chapter explains how growth of consumption is a policy goal; shows the legacy of poverty alleviation and industrial upgrading around the world in creating a system of unbridled consumerism, which has given rise to the concepts of “hyper globalization” and “hyper economic growth”; explains that there is not a clear market structure to internalize their social costs; defines social costs in terms of environmental damage; and explains why markets do not to address them equitably and the academy struggles with their operationalization.
