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Recommend "Alex Hawkes"- Report: UK Riots Were Product of Consumerism (Email)

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by Alex Hawkes

http://www.guardian.co.uk/business/2011/aug/22/uk-riots-economy-consumerism-values

The recent riots in London and other big cities were the product of an "out-of-control consumerist ethos" which will have profound impacts for the UK economy, a leading City broker has said.

The report by Tullett Prebon warns: "The consumerist ethos, in which a materialist vision is both peddled and, for the vast majority, simultaneously ruled out by exclusion, has extremely damaging consequences, both social and economic."

The report, the firm's global head of research Tim Morgan, the report is part of a series one of in a series put out by in which the brokerage in which it analyses bigger issues for the UK. Last month, the broker Tullett Prebon issued a report on the UK's economic situation as part of Morgan's Project Armageddon.

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