1. Abundance, scarcity and sufficiency -- 2. The institution of marketing -- 3. Socio-cultural consumption -- 4. Subjective consumption -- 5. Cognitive consumption -- 6. The role of markets -- 7. Implications.

Satiation of need is generally ignored by growth theory. I study a model where consumers may be satiated in any given good but new goods may be introduced. A social planner will never elect a trajectory with long-run satiation. Instead, he will introduce enough new goods to avoid such a...