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Hazel Kyrk’s contribution is the most advanced formulation of the economics of consumption as a social phenomenon, an approach to the analysis of consumption that, originated from Veblen’s theory, was developed in the US in the early 20th century. This approach was part of a wider stream of empirical analyses of consumption expenditure that had begun more than a century earlier.

Along with elements that can be traced back to the neoclassical tradition, in Keynes’ analysis of consumption, we find original elements. The dependence of consumption expenditure on the level of income, which is essential for asserting the principle of effective demand, can also be found in a long tradition of empirical studies. In qualifying this relationship, Keynes uses theoretical elements echoing key insights of the economics of consumption as a social phenomenon. There is no documentary evidence that Kyrk or the economics of the social relevance of consumption came to Keynes’ attention. It is possible, however, to develop reasonable speculative considerations to argue a link between Keynes’ elaboration and both the empirical literature on the determinants of consumption and the economics of consumption as a social phenomenon.

This chapter traces the origin of racism and reviews the historical and contemporary debates around race and racialisation in western thought. There are persistent disagreements surrounding the origin and nature of racism. Because of the evolution of racist ideas, behaviours and institutional practices and policies, there are various views about the meaning and analytical application of racism. This chapter explores how ideas of race – understood as innate and immutable human differences that can be classified and ranked hierarchically based on race – has emerged in western history and evolved over time. It examines how this has influenced social and political practices and associated policies across the evolution of modernity. The chapter specifically discusses the Atlantic slave trade and how it shaped the historical development of race and racism within the context of colonialism. It concludes with a discussion and critical review of some of the racist systems and policies which have been enforced across different multiracial countries.

In Chapter 1, we critically reviewed the foundations of the free enterprise capital system (FECS), which has been successful primarily because of its wealth and asset accumulation potentiality and actuality. In this chapter, we critically argue that this capacity has been grounded upon the profit maximization (PM) theories, models, and paradigms of FECS. The intent of this chapter is not anti-PM. The PM models of FECS have worked and performed well for more than 200 years of the economic history of the United States and other developed countries, and this phenomenon is celebrated and featured as “market performativity.” However, market performativity has not truly benefitted the poor and the marginalized; on the contrary, market performativity has wittingly or unwittingly created gaping inequalities of wealth, income, opportunity, and prosperity. Critical thinking does not combat PM but challenges it with alternative models of profit sharing that promote social wealth, social welfare, social progress, and opportunity for all, which we explore here. Economic development without social progress breeds economic inequality and social injustice. Economic development alone is not enough; we should create a new paradigm in which economic development is the servant of social progress, not vice versa. Such a paradigm shift involves integrating the creativity and innovativity of market performativity and the goals and drives of social performativity together with PM, that is, from market performativity to social performativity.

Research indicates a long historical connection between racism and nationalist ideologies. This connection has been highlighted in the resurgence of exclusionary nationalism in recent years, across many multicultural societies. This chapter discusses the notions of race, ethnicity and nation, and critically examines how racism shapes contemporary manifestations of nationalist discourse across the world. It explores the historical role of settler-colonialism, imperial expansions and the capitalist development in shaping the racial/ethnic aspect of nationalist development. Moreover, it provides an analysis of the interconnections between the racialisation of minorities, exclusionary ideologies and the consolidation of ethno-nationalist tropes. This chapter further considers the impact of demographic changes in reinforcing anti-migrant exclusionary sentiments. This is examined in connection with emerging nativist discourse, exploring how xenophobic racism has shaped and is shaped by nostalgic nationalism based on the sanitisation of the legacies of Empire and colonialism.

This chapter addresses the question of what normatively binding claims can be associated with the principle of sustainability. It proposes a theoretical reading of justice that requires a new level of morality, namely a global (spatial), intergenerational (temporal) and ecological (material) extension of the scope of responsibility. This makes it plausible that responsibility for those who are distant in space and time, as well as for nature, becomes a matter of conscience. At the same time, it is shown how the binding claims resulting from the principle of sustainability can be internalised in the course of a conscience formation and how the gap between knowledge and action in questions of sustainable development can be closed by means of an emotional underpinning. Finally, it is proposed to transfer the question of conscience to spatial units and tourism through the model of ‘Destination Conscience’ and to institutionalise the idea of ‘inner commitment’ or self-commitment. One suggestion is the creation of committees that could be a collective ethical conscience for the future issues.