This explosion of artificial wealth provides the illusion of economic dynamism but, in reality, it is parasitic - endless credit devours the finite fitra.

BBC: VIEWPOINT

But much of this new wealth is an illusion.

ECONOMIST: The dragon and the eagle | The

Spending to create the illusion of wealth.

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And this illusion was that material wealth does not make that much of a difference in how happy people are.

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Nevertheless the illusion of new-found wealth has caused households as a whole to save less and spend and borrow more.

ECONOMIST: The dragon and the eagle | The