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Because capitalism can't accept the inevitable fact that infinite exponential growth is literally impossible. It's not a "service economy" it's a "rent extracti

Because capitalism can't accept the inevitable fact that infinite exponential growth is literally impossible. It's not a "service economy" it's a "rent extraction" economy. Capitalists need more growth and more returns now and since innovating, producing goods, and providing customer service costs money, we simply charge people a monthly fee to use their heated car seats. This is what the brutal, messy end of capitalism looks like. Relentless self-cannibalization, burning billions of dollars tomorrow to make one cent today. If nothing makes sense, that's because it doesn't. There is no logic or reason or planning involved. It's more money now, period. Consequences don't matter because we get more money right this second. Capitalists are apparently unaware of what happens when they've extracted all possible money from the economy.

tavavex 1y ago
Your concerns are true, but I'm not sure if this answers the question above. After all, the shift to service economies started a very long time before the crisis ramped up to what it's like today. And even today, under a crust of rent-seeking businesses, circular investing and outright scams, there's plenty of quiet, boring businesses that provide actually important and relevant services. It can (and probably will) still get so, so, so much worse than this. So clearly, there's more factors in play here that made most of the first world transition to providing services, since we weren't remotely close to running out of ways to extract and sell goods then (and still aren't, not yet).