The problem is beyond socialism and capitalism. Even in socialism, nobody says that people will be smart enough to see that they are not what they own and wear and buy.
We-humans have been doing this for thousands of years, now we can look at such behaviour as we look at child's play and laugh (I hope)
Here are some quotes from "Fight Club" :
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You buy furniture. You tell yourself, this is the last sofa I will ever need in my life. Buy the sofa, then for a couple years you're satisfied that no matter what goes wrong, at least you've got your sofa issue handled. Then the right set of dishes. Then the perfect bed. The drapes. The rug. Then you're trapped in your lovely nest, and the things you used to own, now they own you.
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...you're not how much money you've got in the bank. You're not your job. You're not your family, and you're not who you tell yourself.... You're not your name.... You're not your problems.... You're not your age.... You are not your hopes
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