My friend Tom has had an article published on Mercatornet, examining how the sin of avarice became a virtue in the context of our modern consumer economy:
Cavanaugh notes that consumerism is thus a “spiritual disposition”. Its error is not in that it seeks the spiritual in the material, for this is a tenet of traditional theology. And nor is its error that people are choosing material goods over spiritual values. Cavanaugh’s insight is to see consumerism as a type of spirituality, “a way of pursuing meaning and identity, a way of connecting with other people.”
This spiritual dimension to consumerism is reflected in the nature of advertising which has come to say little about the advertised product but much about the identity attached to buying such a product. Buying a product becomes a means to attaining a particular identity or experience. In this process, the actual product is only instrumental and so we become detached from it.