In the 21st century, the depletion of resources coupled with the staggering geometric expansion of demand has led to significant decline of economic systems.
As the society evolved more and more resources were demanded.
The concept of bare minimum blurred and eventually became lost.
The idea of necessity and luxury has lost a significant degree of distinction.
The social sphere is permeated with the very instigators of greed and materialism.
They continuously shape perception and attitudes to those which lead to reckless and unsound economic choices.
This in turn is the starting point of the failure of economies in many respects.
Aside from the forces of economics and finance the decline of economies is more deeply rooted in sociological causes.
The principles of economics in many cases do not fully explain the choices and shifts in human behavior that determine certain economic realities.
In highly industrial and capitalist societies, the rise and fall of financial and commercial institutions are pegged upon the inclinations and attitudes of those who comprise it.
The fundamental view is that it is good to always have more had caused the downfall of companies like that of Enron.
In this example, the corporate leadership would be motivated by avarice to destroy the company to satisfy the said inclination.
There are other broader manifestations of social forces determining the downfall of economic systems is the reckless and irrational use of credit to avail of goods and services.
The compulsion to acquire and purchase despite that it already is to the extent that it exceeds an individual's revenue or income is such a problem.
The reality is denied and silenced by the motivation to acquire more and more.
What is the cause of entire societies being driven into a buying and spending frenzy? Many refer to this as the consequential decadence attributed to modern consumerism.
In the social sphere, especially in industrialized and capitalist economies this is promoted and turned into a norm by institutions and individuals for their own financial gain.
Companies are unwilling in most cases to discourage individuals from spending despite the adverse economic conditions in the market.
The attitude of society is geared towards spending despite the negative implications that such would entail.
This leads to the bloating of credit by those who cannot realistically pay for such.
As a consequence business entities fail and the resources invested in it are compromised.
This phenomenon, when it occurs broadly leads to recession and economic declines.
This is further compounded by the expansion of populations and increases in demand.
This inevitably results to more and more people having lesser and lesser access to resources.
Thus poverty incidence and unemployment also end being on the rise.
All these rooted in the popular view that it is alright to spend without considering the implications of such nor if such is necessary and integral.
Now once healthy and capable economies suffer significant deterioration and stagnancy.
Very few consider the roots of such as something that lies within the realm of human psyche and social dynamics.
However, this establishes that such dimension of economic failure exists and key to counteracting such a slump.