Some of the basic premises behind Buy Nothing Day are that Americans consume too much and that our "over-consumption" is leading to an ecological disaster. Both of these premises are false.

The consumption of Americans is not at the expense of anyone. We produce or pay for everything we consume. Everyone has a right to consume as much as he or she want as long as he or she pays for it. Consumption of material objects is certainly not the only thing that is important in life. But, it is an undeniable fact that in many ways our consumption sustains and enriches our lives. Many reputable scientists have expressed credible doubt on the claims by environmentalists that we are facing an ecological disaster.

For example, it is claimed that our consumption is causing natural resources to be rapidly depleted. The fact is, resources as such do not have any value in themselves. They are valuable only to the extent that we can use them for some specific purpose. In his eye-opening book, The Ultimate Resource 2, Julian Simon argues that the ultimate resource is the human mind. As long as humans are left free to innovate and trade, we will always be able to find new resources and develop new technologies to replace any highly polluting or depleted resources.

Simon points to the historical transition from wood, to coal, to oil, to nuclear power, the last of which is potentially limitless. Contrary to environmentalist claims, the risks of nuclear power are in fact very low.