- 30 May 2014 04:44
#14414744
Essentially the basis of capitalism is continuously expanding markets. This is the grounds for the division of labor. Expansion of markets is the historical impetus to the transition from local craftsmanship to industrialized production. This logic of perpetual growth is pervasive under capitalism. It is the goal of every capitalist firm. It is the goal of every investor in capital markets. There is really no alternative to perpetual growth under capitalism, aside from economic depression. This is when you have people lining up on the streets staring at empty houses in which they cannot live, while farmers burn crops in the midst of mass hunger. Capitalism has no potential for a steady state. Ever expanding demand against ever expanding supply is the fundamental root of capitalism. Means by which this is achieved (i.e. division of labor) are the products of necessity of capitalism.
Eran wrote:No. Capitalism allows remarkable levels of growth, thereby enriching humanity to previously-unimaginable levels. But it doesn't depend on growth.
Essentially the basis of capitalism is continuously expanding markets. This is the grounds for the division of labor. Expansion of markets is the historical impetus to the transition from local craftsmanship to industrialized production. This logic of perpetual growth is pervasive under capitalism. It is the goal of every capitalist firm. It is the goal of every investor in capital markets. There is really no alternative to perpetual growth under capitalism, aside from economic depression. This is when you have people lining up on the streets staring at empty houses in which they cannot live, while farmers burn crops in the midst of mass hunger. Capitalism has no potential for a steady state. Ever expanding demand against ever expanding supply is the fundamental root of capitalism. Means by which this is achieved (i.e. division of labor) are the products of necessity of capitalism.
Last edited by Crantag on 30 May 2014 06:59, edited 1 time in total.