- 18 Apr 2013 18:33
#14217205
This is a silly myth about capitalism. You absolutely do not need an "abundance of resources" or even economic growth to sustain capitalism, though you'll often hear leftists make that claim. Japan has had zero growth for 2 decades running yet its social programs have not suffered much stress and it remains a rich and prosperous liberal democracy.
Heck, Development Economics 101 teaches us about the "steady state" economy -- the point at which growth is zero.
ralfy wrote:Free market capitalism provides material freedom only as long as there is an abundance of resources. This is also the same condition needed for upward mobility and what keeps money propped up. But since most people want more goods and services, then there is no possibility for capitalism to be abolished. What will happen is that it will fall apart due to a resource crunch.
This is a silly myth about capitalism. You absolutely do not need an "abundance of resources" or even economic growth to sustain capitalism, though you'll often hear leftists make that claim. Japan has had zero growth for 2 decades running yet its social programs have not suffered much stress and it remains a rich and prosperous liberal democracy.
Heck, Development Economics 101 teaches us about the "steady state" economy -- the point at which growth is zero.
- By Potemkin
- By Pants-of-dog
- By Negotiator
- By Rancid