The paper will examine the very emergence of neoliberalism, which the individual states encouraged through decades and humanity accepted. Interest will be paid on analysis of the economic doctrine and theory, and its main creators and executors. Joseph Stiglitz1, one of the most influential economists of Western culture and Chief Economist of the World Bank, has in recent years become its chief critic. He points out that the liberalization of imports of capital causes shocks due to sudden inflows and outflows of profits, which intensifies the instability. The shock should be eased, and it is necessary to encourage adjustment to changes while strengthening institutions and competitiveness.The impact of globalization and technology on the world and man will be examined. The process of the emergence and spread of debt bondage in western culture will be investigated and the overview of the differences in the debt of citizens between banks in US, Western Europe, and Croatia will be provided.In this paper, the method of induction and deduction will be used, which will form specific conclusions from sources and facts presented in the work. Analysis and synthesis will be used to break down complex concepts and judgments to their simpler parts and vice versa. Description and comparison will help us acknowledge certain facts and their empirical confirmation by comparing their relationship. Results will be brought in conclusions for each part of the paper and at the end of work. The purpose is to show the level of consumerism in modern society and so-called debt bondage,which is the foundation of living in the 21st century Western World.