Is Hayek a critic or an advocate of limitless consumption?

Hayek’s Stand on Limitless consumption
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Hayek’s Stand on Limitless consumption
Abstract
This study presents the arguments of Hayek about how the market can be shaped by the changing economic trends in the consumption of goods and services to aid the market to remain free from overstretching so as to satisfy its demands as well as the demands of the people. It further looks at the other factors contributing to limitless consumption and examines how each of them contributes to the overall set-up of the economy of the people and the nation. This paper aims to critique Hayek’s theory on the use of information in economics and evaluates whether limitless consumption is a core scope of any economy. The core concern this study seeks to address is whether Hayek, through his various economic theories and arguments was for or against limitless consumption.
There two key words that will serve as a guide for the larger part of this work and they are the ones that define the meaning and scope of Hayek’s work. Overconsumption and forced saving are the core terms from which the study of human consumption and human satisfaction are derived. The two aforementioned terms are often used in the description of the busin…