I kind of disagree. That is, I suspect this is wrong but I don't think we really know. The problem with imagining increased consumption is that we tend to imag

I kind of disagree. That is, I suspect this is wrong but I don't think we really know. The problem with imagining increased consumption is that we tend to imagine frivolous consumption. There are non frivolous things tot consumer too. Health, for example. We have a pretty greedy appetite for health "consumption." If we can afford more of that we will. Elderly care is another thing people struggle to afford enough of. Education… I don't think consumption capacity is really the issue. I think the ability of the great majority to contribute economically to a sufficient degree that they can have a non-humiliating piece of the pie. Jobs, basically.