In a resource-constrained, cut-throat competetive economy where everything is seen as a zero-sum deal, the average man will never hesitate to root for less-for-others if it guarantees more-for-me.
Where people's measure of worth is what one owns rather than what one does or how one lives, such a decadence is but a mere natural happenstance.
The eastern scriptures depict this in an allegorical way - a time in the world where there's no evil (satya yuga, pure and natural), followed by a time where the world is deviating towards order (treta yuga), followed by a time in the world where the balance of dharma (righteousness) tilts slightly towards adharma (wickedness or everything opposite of righteous) which was Dwaparayuga, followed by the age where righteousness is nowhere to be found (Kali yuga which is where we are now) This being a cycle and the cycle continues forever and ever. A refresh will happen - how soon or later, nobody seems to know!