Here are a couple of links to some newspaper articles:

http://www.washingtonpost.com/wp-dyn/content/article/2006/12/17/AR2006121701122_pf.

http://www.startribune.com/business/13513951.html

and an article found at Treehugger

http://www.treehugger.com/files/2006/12/the_compact_buy.php

The Compact: an agreement made by individuals or families to not buy anything new for at least one year.  Exceptions might be those items which are vital to daily living such as toothpast, toilet paper, underwear, etc.  The use of second hand stores, Craigslist, barter, rentals, and libraries is encouraged.  The intention is to help break the cycles of consumerism and consumption and help to promote the examination of many of the unexamined assumptions found in our daily lives.

Three points listed by the original San Francisco cooperative are as follows:

1.  To go beyond recycling in trying to counteract the negative global environmental and socioeconomic inpacts of US consumer culture.  To resist global corporatism, and to support local businesses, farms, etc.

2.  To reduce clutter and waste in our homes (as in trash compact-er)

3.  To simplify our lives (as in calm-pact)

Interested?