1. Introduction: The Argument in Brief -- I. The Neglected Realm of Social Security. 2. A Duality in the Growth Potential -- 3. The Material Economy and the Positional Economy -- 4. The Ambiguity of Economic Output -- II. The Commercialization Bias. 5. The Economics of Bad Neighbours -- 6. The New Commodity Fetishism ; Appendix -- The Commercialization Effect: The Sexual Illustration -- 7. A First Summary: The Hole in the Affluent Society -- III. The Depleting Moral Legacy. 8. An Overload on the Mixed Economy -- 9. Political Keynesianism and the Managed Market -- 10. The Moral Re-entry -- 11. The Lost Legitimacy and the Distributional Compulsion -- IV. Perspective and Conclusions. 12. The Liberal Market as a Transitional Case -- 13. Inferences for Policy.