Consumerism and materialism strike me as ultimately very destructive... growing up in Denmark and now living in the US has really underscored the differences between a "me" and a "we" culture... and don't get me wrong, capitalism and free markets are alive and well in Denmark!
Perhaps the main difference lies in the underlying FOMO tendencies that drives US culture. People become so eternally competitive in the material sense; in Denmark there is more status in things like "having nice friends" or "having a cozy and welcoming home."
One of the things that really surprised me when I first came to the US is how "getting together with friends" invariably meant going out where in Denmark you almost always go to someone's house. In time, I could see how "outer-directed values" are more important in the US... materialism is very public in the US. In Denmark, someone might spend a small fortune on art they love... but it's primarily for their own enjoyment, not for public consumption.
There are exceptions, of course...
RE: Material Mind