I agree that it's a problem for more people than those directly impacted (I wouldn't say no one benefits though, some companies are benefiting from reckless spending).
I think the problem is one of culture. The 20th century was basically a gigantic advertisement for hedonistic individualism. It's not surprising that that mode of living is turning out to be unsustainable for everyone to participate in. By holding people responsible, you put some pressure on to create an alternative archetype to that of the "sex, drugs and rock 'n roll" 20th century heroes.
I think we have a long way to go though. Just yesterday there was a piece on HN about Millennials and Gen Z becoming more pessimistic. It stated that their number one priority was travel. Maybe the post-Gen Z generation will prioritize savings and more stoic living after they watch the aftermath of the previous two generations focusing on hedonistic spending.
I think the problem is one of culture. The 20th century was basically a gigantic advertisement for hedonistic individualism. It's not surprising that that mode of living is turning out to be unsustainable for everyone to participate in. By holding people responsible, you put some pressure on to create an alternative archetype to that of the "sex, drugs and rock 'n roll" 20th century heroes.
I think we have a long way to go though. Just yesterday there was a piece on HN about Millennials and Gen Z becoming more pessimistic. It stated that their number one priority was travel. Maybe the post-Gen Z generation will prioritize savings and more stoic living after they watch the aftermath of the previous two generations focusing on hedonistic spending.