BTW, some misconception here that I see so often: capitalism is not consuming a lot or too wildly. In fact, capitalism is not possible without saving, literally.
In order to raise our lives level there were previous savings that were reinvested in process improvement, which eventually kept raising our life standards. Capitalism is exactly about that: same product at better price or higher quality products.
We humans always try (yes, left wing people also!) to buy at the lowest price and sell at the highest price (in general terms). That is why competition is good, because it does not let business abuse a monopolistic position and the prices drop.
People try to associate excessive consumption to capitalism. I do not think it is a trait of capitalism per se.
The use of consumerism as a euphemism for capitalism is a (alleged) historical fact.
From what I read, consumerism did not have the negative connotation mid-century, whereas capitalism did.
I don't know how it happened, but seemingly "consumerism" acquired a similarly negative connotation, which is a Sisyphean cycle with euphemisms.
As I understand it, "capitalism" was an invention of the writers of the Communist Manifesto, while ironically "communism" was not. When a concept is developed purely for oppositional purposes, it can and often does attract people to defend it.
But in some sense, I feel like it doesn't really exist due to its origin. It amounts to the status quo, plus a word that lets people feel like they are opposing (or supporting) some one or thing rather than fog.
Indeed, the rampant consumerism of our current day is powered by government, not capitalism. The US government actively promotes consumption through tax policy, monetary polity, and spending policy.
In order to raise our lives level there were previous savings that were reinvested in process improvement, which eventually kept raising our life standards. Capitalism is exactly about that: same product at better price or higher quality products.
We humans always try (yes, left wing people also!) to buy at the lowest price and sell at the highest price (in general terms). That is why competition is good, because it does not let business abuse a monopolistic position and the prices drop.
People try to associate excessive consumption to capitalism. I do not think it is a trait of capitalism per se.