Will the changing consumer redefine capitalism?

Context: The impact of COVID has metamorphosed capitalism in a manner that will lead to the rise of anti-consumerism and anti-materialism. 

Capitalism and its side effects :

• Devoted to continuous and unending growth: based on two assumptions

1. People have an unlimited appetite for more and more goods.
2. The earth has unlimited resources to support unlimited growth.

• Conspicuous consumption: acts as a malady taking people away from more meditative lifestyles.

Impact of COVID

• Redefining Capitalism: A period of deprivation and anxiety sustained due to pandemic will usher into changes consumer attitudes redefining the nature of capitalism at it is today.
• Emergence of anti-consumerist: 5 types of anti-consumerists are said to emerge:

1. Life Simplifiers: persons who want to eat less and buy less, will downsize their possessions (like owning cars or homes). 
2. De-growth Activists: who typically worry that consumption will outpace the carrying capacity of the earth, desire reduction in material needs.
3. Climate Activists: who believe that higher consumption leads to higher carbon footprints and pollute the environment.
4. Sane Food Choosers: raising the banner of vegetarianism/veganism to encourage plant-based diets.
5. Conservation Activists (anti-globalist): who plead not to destroy existing goods but to reuse, repair, redecorate them or give it to needy people. 

• Crushed foundations of Capitalism :

• As opposed to the 2008 crisis: where the financial system (roof) had collapsed, in contrast, this time the foundation is collapsing.
• E.g. capitalist system is based on compelling people to go to work and spend their wages, but now they are compelled to stay away from work

Conclusion: Future of Capitalism - to a higher pedestal of Post-consumerism 

• Precarity Capitalism: 

• Main trait is not growth or competitiveness but precariousness and instability.
• Change in character of inequality: as it will lie not in income or wealth but of security and self-confidence.
• E.g. a small minority of consumers will set of safe career paths, and a majority of consumers will live in persistent anxiety over costs of health, housing, education, and the prospect of vanishing jobs.