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Capitalism seems to be capable of producing far more than it can consume.
by deafcalculus 8y ago
Capitalism seems to be capable of producing far more than it can consume.
- Animats 8y agoProduction technology today is capable of producing far more than can be consumed. This is a change from most of history, and it's why classical economics doesn't have the answers. Capitalism is now market limited. There has to be buying power. People who are only marginal players in the economic system don't generate much discretionary buying power. As the CEO of WalMart has said, "Our customers are out of money".