An economy driven only by spending on bare essentials would be worse than Great Depression level malaise and stagnation. Where are you imagining growth would come from?
replyTime is money. Emotion. You think someone's not going to buy a sports car because it will be cheaper in 10 years? That's 10 years without a sports car.
replyThey might, however, ask whether they need a car with 30% profit margins or one with closer to 10%.
I don't think the grand social goal is to maximize economic growth. It's a stable healthy society.
Right now it really just feels like people spend on whatever the hell they want to without any thought whatsoever. Consume. Yes good, consuuuume. I'd trade slower economic growth for more responsible spending...