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>Creative destruction is both a weakness and a strength though. I agree with this statement. >You seem to be complaining about essential features of capitalis

>Creative destruction is both a weakness and a strength though. I agree with this statement. >You seem to be complaining about essential features of capitalism, on one level you may be correct, just like observing that eating too much pizza will make you fat, but just like the fat, it's an inherent 'feature' that you can't really fix. I may seem that way, but I think this situation does provide benefits for those who can exploit it in the short run. I don't think what we call capitalism as it exists today (on the national/international) level is an upper bound optimal level of resource allocation, just the local maxima/cleanest dirty shirt/etc. >Much handwringing has been had complaining about the short termism of the markets, investing long term is good, yes ideally there should be a constant pipeline of new products, I don't think you can write off the industry that there isn't though. I think it would be more fair to say that I'm writing off the industry now, there's alot of people/incentives in crowded positions that need to be wiped out before I'll be more interested.

benj111 7y ago
"I don't think what we call capitalism as it exists today (on the national/international) level is an upper bound optimal level of resource allocation, just the local maxima/cleanest dirty shirt/etc" Maybe? Probably. I don't see how you could 'fix' it though. Sure you could find a better local maxima. As i say, it seems to me to be an inherent feature.
- cinquemb 7y ago
  Yeah, well I guess in my mind the thing to be fixed would be resource allocation, not what people may consider to be capitalism today (the present day king-of-the-kill towards those ends). Will some of the (social/political/economic) infrasurture of present day capitalism still exist? Probably, just as some religious institutions from thousands years past still exist today, but the role it plays towards some ends that drive society forward would be made obsolete. But in saying that, these things change on time frames beyond our own lives, with few having enough foresight to see what may be up ahead based on some kind of understanding of where we're going now, and fewer acting as agents of such change.

benj111 7y ago

"I don't think what we call capitalism as it exists today (on the national/international) level is an upper bound optimal level of resource allocation, just the local maxima/cleanest dirty shirt/etc" Maybe? Probably. I don't see how you could 'fix' it though. Sure you could find a better local maxima. As i say, it seems to me to be an inherent feature.

cinquemb 7y ago
Yeah, well I guess in my mind the thing to be fixed would be resource allocation, not what people may consider to be capitalism today (the present day king-of-the-kill towards those ends). Will some of the (social/political/economic) infrasurture of present day capitalism still exist? Probably, just as some religious institutions from thousands years past still exist today, but the role it plays towards some ends that drive society forward would be made obsolete. But in saying that, these things change on time frames beyond our own lives, with few having enough foresight to see what may be up ahead based on some kind of understanding of where we're going now, and fewer acting as agents of such change.