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Capitalism demands neverending growth, despite loads of limitations that make that physically impossible. Marx already recognized this, but 150 years later we'r
by FranzFerdiNaN 8y ago
Capitalism demands neverending growth, despite loads of limitations that make that physically impossible. Marx already recognized this, but 150 years later we're still pretending this is not the case.
- Retric 8y agoCapitalism does not require growth. Many markets are stagnant or even shrink as technology evolves. Capitalism incurages growth, but does not require it.
- elcomet 8y agoDo you have some reference on this ? I'd love to read more about it.
- pascalxus 8y agoHe's probably talking about Europe and Japan. The Japanese stock market has been in decline for the last 30 years
- Retric 8y agoPlenty of examples from film cameras to the often mentioned buggy whip manufacturing. More recently the decline of the newspaper industry has often been profitable to declining companies. Cut investment into the future and ride them into the ground. Often it’s a question of sunk costs, the capital has already been allocated now it’s time to maximize the return. As a rule, dying industry’s can be profitable up to the point where they become irrelevant as long as people correctly predict the fall.
- krapp 8y agoIt doesn't require growth, but anything other than growth is seen as a weakness.