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I believe just attributing it to capitalism is way to broad of a statement. It's not too uncommon to say that the "capitalist era" has existed for about 500 yea
by pgsandstrom 8y ago
I believe just attributing it to capitalism is way to broad of a statement. It's not too uncommon to say that the "capitalist era" has existed for about 500 years, and the explosive growth of value has existed for a much shorter time. So to simply say that all our current growth comes from capitalism is way to simplistic.
- AnimalMuppet 8y agoA definition of capitalism I like is this: Capitalism is where the gains/profits are not just consumed. They are re-invested. That's where explosive growth comes from. You make some money. Instead of blowing it on wine, women, and song, you use it to buy better tools. So you are more productive, and so you make more money. You use that to buy even better tools. Spread that behavior over a large chunk of society, keep that up for several decades, and you'll get a pretty explosive growth of value.