Is capitalism sustainable?


All rolling. Right here, right? My job is to scare you, that’s all. Is capitalism sustainable? If you understand that the central defining
feature of capitalism is that it is a system for profit and about profit, then I think my answer is yes. But then when you ask a separate question, what does capitalism do to the environment? What does it do to people? What does it do to jobs? Then you raise the question of whether
capitalism is going to be tolerable. If we talk about capitalism, we have to talk about
it as a social system, and that’s going to involve a very difficult conversation
because in order to do something about that, you have to impede its intrinsic tendencies, impede its tendency to reduce costs and dump the
rest on society and the environment, to cut jobs and assume that someone else
will pick them up. On one hand, it produces us wealth, on the other hand, it erodes many things that
we generally consider to be worth having, such as community, such as place, not to mention
jobs and a future for many people, certainly for younger people. We are at a juncture where we are facing this issue, and we face it in the politics of every country in the
world today, in Europe, in Asia, and certainly in the United States, where the cleavage is between those who think that
we want more of this unfettered system and those who say, no, it’s gone too far. What are the alternatives? Can we construct ways of living that take advantage
of some of the better qualities of the system, and on the other hand, don’t permit the side effects
that pile up as it bulldozes its way through history. The future is not given, it’s not been decided. And what we do, and how we do it, and how we connect up to people who are doing it, decides the future.

15 thoughts on “Is capitalism sustainable?

  1. The future is decided because it can't be changed fast enough to save us. But don't stop trying just don't be surprised when mass death, migration and starvation break out.

  2. I have have some clues as to how overshot some things have become. In our daily lives, we just need to be mindful of how to reduce the incoming effects rather than aggravate them.

  3. Capitalism requires infinite resources with unlimited growth so that it can grow exponentially. 7 billion people on the planet. And the planet and all its contents are a FINITE resource. And all 7 billion want a house with a 2 car garage (amongst other things). It just cant go on like this forever folks. The whole system is a house of cards. And people just dont realize how fragile this whole set up really is.

  4. Ideological Capitalists had enough power after the Vietnam/Watergate era to buy up the mainstream media and end journalism.
    That was over thirty years ago, and they have done nothing but consolidate that power since then.
    Yeah, we're pretty much doomed.

  5. Is Capitalism Sustainable ? Anwar Shaikh said, "… my answer is Yes…"
    Capitalism , as a system for 'Profit above all else' is UNSUSTAINABLE, Mr. Anwar Shaikh !!!
    Anwar Shaikh is a neo-liberal apologist. If it is not "tolerable" how can it be "sustainable"?

  6. Anwar Shaikh's Historical Foundations of Political Economy Lectures:
    https://www.youtube.com/watch?v=AmBHCiDd8ew&list=PLTMFx0t8kDzc72vtNWeTP05x6WYiDgEx7

  7. Capitalism is good if you are winning but if you are not you are treated as less, struggling to make ends meet and your quality of life is not worth shit.

  8. Capitalism contains the seeds of its own destruction.

    The nature of every business is to become a monopoly and that is unhealthy for any market.
    Therefore it must be recognised at all levels that BIG is the core problem. As they grow they need a bureaucracy and that is when the antisocial elements get to operate. Anything that has a head office is probably a good indicator that it is no longer a market-healthy business.
    Ergo:
    Capitalism works best in an informed market.
    Corporatism will try to be the only game in town, relentlessly.
    Until we have informed markets governments must do whatever it takes to limit market share. The historical problem is that Govts will always screw that up so more work needs to be done on the education/awareness side. Govts screw up everything they touch.

    One final point. The purpose of any economy is to grow the wealth of the market/society. Wealth is only increased when foreign capital comes to stay. Any business that attempts to bleed its host market is not a healthy business (for the economy, it's cowardly). Business can only be allowed to become wildly wealthy from value-added, export activity, i.e: not raw products. And good luck to them.

  9. Is there a possible solution?
    Like we can have a peaceful world where people don't have to work to death… buying stuff forever…
    I dream of a world where we need to worry about standard of living.. where people live freely without any rich or poor…

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