I think individualism and personal liberty has been conflated with a selfish sort of consumerism, from the end consumer up through corporate cultures. Want something new? Buy it! Are you a business wanting to make inroads in a new sector? Don't research and produce. Acquire!
It is no surprise to me, then, that corporate debt is at an all time high, corporations and individuals are less prepared and resilient than ever, and that this crisis is violently exposing that.