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As Marx summarised it, capitalism is characterised by a pattern of cyclical booms and crashes, generally crashing deeper each time. He was not, actually, posit
by rue 17y ago
As Marx summarised it, capitalism is characterised by a pattern of cyclical booms and crashes, generally crashing deeper each time.
He was not, actually, positing that it would eventually collapse but that it may survive its cycles so long as there are enough "willing" people to take the brunt of the crashes and least of the booms at the bottom rungs of society.
Of course, he probably had less of an idea about the resource problems we will be facing in the near- to mid future, complicating capitalism's crash-recovery.
Personally, I think it will take at least two more of these before there is anywhere near enough support for abandoning capitalism.