Sunday, October 9, 2016

Ending Capitalism, When?

CAPITALISM WORKS. Of that, there can be little doubt. It creates great wealth and prosperity, its primary intent. Oh, maybe it pollutes and destroys the planet with global warming, but it works.It tends to created great wealth, and to concentrate that wealth into fewer and fewer hands as time goes no, but capitalism works. It creates a lot of prosperity for a lot of people. The question is: how long to we continue to use it? How much longer does capitalism last? Capitalism is based on economic growth, which is associated with population growth. Every year more new cars and television sets enter the market and are sold that the number of cars and TV sets thrown away into the landfill. There is a limit to growth, for anything. Just about all economists are capitalism, hardly any of them believe we need to eliminate all capitalism and replace it with pure socialism or communism, but there are conservative and liberal economists, who favor varying degrees of government involvement in the economy. With no capitalism at all, with only government command control, there really isn't going on, economically, not much economics to even study, and economics becomes nothing more or less than public policy, so, is no longer necessary to study economics as a separate academic discipline. John Maynard Keynes, considered one of the greatest economists of all time and who believed in a large amount of government involvement, asked this simple question; when and how does capitalism, having fulfilled its mission statement, to make everybody prosperous, fade out of existence? maybe capitalism ends when so much economic growth has been achieved and accumulated over teh years, everybody has no much material wealth, the total global pile of accumulated material wealth is so huge....that it becomes obvious that no more growth oriented economics is needed or desired. and either everybody has more than enough, or could have, if it were all distributed properly, the term "distributed properly" meaning, fairly,m reasonably, equally. That is the question. Maybe, just maybe, part of the answer is that its time to stop and change and replace capitalism with some or system when humanity reaches the point of destroying the Earth's environment, and ending its own existence. ya think?

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