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Growth doesn't seem to be a prerequisite for capitalism. Rather, it's a shortcut, a cheat, that hides or forestalls your sins and indiscretions. Picture a MLM
by gascan 9y ago
Growth doesn't seem to be a prerequisite for capitalism. Rather, it's a shortcut, a cheat, that hides or forestalls your sins and indiscretions.
Picture a MLM or Ponzi scheme- as long as growth is maintained, the problems can be swept under the rug, and you don't have to go to the trouble of running a sound business.
(I'm not calling capitalism a Ponzi scheme, it's just a good illustration)
- dredmorbius 9y agoJohn Kenneth Galbraith introduces the idea of the "bezzle" in The Great Crash: 1929. That's the apparent increase in monetary wealth created by ... "creative accounting" and/or other means.