IMO, the values of society (or “values hierarchies” in the sense of social mores and ethical assumptions) should move away from valuing material wealth entirely. In itself, the obsession with economic materialism is destructive to social cohesion, prosocial traits in individuals, and the growth and stability of civil society. Paul Piff’s research has been pretty conclusive in this regard. The more we fixate on material wealth distribution, the more we remain distracted by class, social status, inequalities, competition for resources, consumerism and a host of other maladies that drive the collective mental illness and corrosion of civil society we are experiencing today.
The alternative is to just let go of economic materialism altogether. Let go of wealth accumulation, the profit motive, the moral infancy of I/Me/Mine, and indeed the conflation of “freedom” and affluence. To do this, I suspect we will need to develop a different orientation to private property itself — reinvoking a mode of collectively shared resources without demanding ownership, a mode that has been successful across many different cultures around the globe. To appreciate this shift, I recommend reading Private Property As Violence.
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