One of the criticisms levied at the free-market is that it leads to an "I want it now!" society. Everyone is too demanding and expects everything done straight away. Our rampant consumerism is destroying the environment. Wouldn't it be nice if we lived in a slower, less stressful society?

Well, no. I rather like shops being open on Sundays, same day deliveries, and companies resolving problems quickly. I love sending documents instantaneously across the world by e-mail and watching 24-hour TV news. Consumerism lets us make more choices and puts us, rather than bureaucrats, in control of our lives. Yes, we may live in a more stressful society, but I'd prefer that to a more backward, less dynamic society.

As for the allegation that consumerism is destroying the environment, the reality is a little different. Consumerism acts as the great preserver because it prices scarcity. As a natural resource starts to run out, the price goes up, giving incentives to develop more efficient technologies or switch to cheaper forms of production. And as countries get richer, people value the quality of the environment more. That is why London's air is cleaner today that at any point since 1585. Similar results can be found in developed countries all over the world. On most measures, the environment is getting better.

The "I want it now!" society, though widely attacked by social scientists, is far from being a vice.