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> It’s the classic Ponzi scheme. You always need fresh new capital to pay off the old capital in order for the scheme to continue. When there is no fresh new mo

> It’s the classic Ponzi scheme. You always need fresh new capital to pay off the old capital in order for the scheme to continue. When there is no fresh new money, everything reverses and folks quickly realise the value of positive cashflow. That's... just economic growth in capitalism

Kye 7y ago
You're on the verge of a breakthrough. Capitalism as typically practiced works like a Ponzi scheme. It's not sustainable without someone, like a government or a standards body, setting boundaries. For example: Banks destroy economies without a government saying "you need to have x cash for y loans" and "you need to pay into this fund to insure you against bank runs."
- rdlecler1 7y ago
  Capitalism requires a constant increases in abundance. Tech provides that.
- bubblewrap 7y ago
  What "rule of capitalism" are you referring to?
- kjsbfkjbf 7y ago
  Close. There are no incentives for a government or a standards body to malign profit for the sake of anything other than longer-term profit. So, capitalism does not work... in any configuration. If regulation truly worked we would not be so fucked with regards to our rape of the Earth.
  - maxxxxx 7y ago
    Without regulation we would be much worse off. There is a lot of room for improvement though
    - kjsbfkjbf 7y ago
      I'm not against regulation. I'm against thinking you can regulate the exploitation out of an inherently exploitative system.
      - maxxxxx 7y ago
        I think you can regulate it to an acceptable level. But that would require politician courage to stand up against the capitalists.
- falsedan 7y ago
  here's a breakthrough for ya: telling people tediously obvious facts and assuming their position so you can condescendingly patronise them will not get you far in any economic system
  - Kye 7y ago
    What happens when you condescendingly patronize someone who you think is being patronizingly condescending?
    - falsedan 7y ago
      close, Bub. if you observe these posts just a little more carefully, you might work out it has already happened to you. namaste

Kye 7y ago

You're on the verge of a breakthrough. Capitalism as typically practiced works like a Ponzi scheme. It's not sustainable without someone, like a government or a standards body, setting boundaries. For example: Banks destroy economies without a government saying "you need to have x cash for y loans" and "you need to pay into this fund to insure you against bank runs."

rdlecler1 7y ago
Capitalism requires a constant increases in abundance. Tech provides that.
bubblewrap 7y ago
What "rule of capitalism" are you referring to?
kjsbfkjbf 7y ago
Close. There are no incentives for a government or a standards body to malign profit for the sake of anything other than longer-term profit. So, capitalism does not work... in any configuration. If regulation truly worked we would not be so fucked with regards to our rape of the Earth.
- maxxxxx 7y ago
  Without regulation we would be much worse off. There is a lot of room for improvement though
  - kjsbfkjbf 7y ago
    I'm not against regulation. I'm against thinking you can regulate the exploitation out of an inherently exploitative system.
    - maxxxxx 7y ago
      I think you can regulate it to an acceptable level. But that would require politician courage to stand up against the capitalists.
falsedan 7y ago
here's a breakthrough for ya: telling people tediously obvious facts and assuming their position so you can condescendingly patronise them will not get you far in any economic system
- Kye 7y ago
  What happens when you condescendingly patronize someone who you think is being patronizingly condescending?
  - falsedan 7y ago
    close, Bub. if you observe these posts just a little more carefully, you might work out it has already happened to you. namaste