There is productive consumption and there is non-productive consumption. In the Keynesian mind, it's not necessary to produce anything, so long as people spend and consume endlessly, even to the point of destroying real wealth.
The idea that people are driven by fear of losses more than they are by the potential for gain has attained a sort of dogmatic adherence among behavioral economists. But there's a problem: the theory isn't true.
There is a growing drumbeat from some high-profile economists to reassure Americans that large increases in income and wealth taxes won’t distort labor markets. Yet much of their arguments are very misleading.