Posted: Mon Dec 08, 2014 3:51 pm
Capitalism does not drive innovation or help address scarcity. Capitalism promotes inefficiency and stagnation. These practices are profitable because they offer an increase in prices. The central focus of capitalism is maximum accumulation of capital, not sustainable and efficient use of resources. To address scarcity we must treat all resources as belonging to humanity in common.Ripoll wrote:Merizoc wrote:Capitalism necessitates consumption and expansion. It is the very definition of "unsustainable".
The economy is only in existence because of limited resources. If there was no limit of resources there would be no need to economize. Expansion and consumption are necessary to accommodate for the population increases and so fourth. Competing private enterprises drive the need to innovate and utilize resources more efficiently to create a cheaper yet better product. An economically stagnant nation is a sure way to failure, and the definition of stagnation is the lack of expansion or consumption.
While there is a certain amount of socialistic ideas incorporated into any economy and no economy is ran by a single economic train of thought, the means of production and the allocation of resources should mostly be in the hands of corporations with sufficient Government oversight to make sure it benefits the people and it is sustainable over a long period of time. I.E the federal reserve, environmental regulations, civil rights, etc.