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View Diary: Economics Works Backwards Now (192 comments)

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  •  I've been thinking about this paradox recently (17+ / 0-)

    and was going to write a diary about it, but you summed it up pretty good.

      The only thing you left out of your diary is taking the logical conclusion to its end - that society has evolved past capitalism.
       Of course saying that is heresy, so we continue to dance around the elephant in the living room.

      Capitalism is built upon scarcity. Scarcity produces profits. The only scarcity these days are jobs. That will create profits, but it will kill demand, which will eventually kill profits.
       Capitalism is in a historical cu-de-sac.

    "The people have only as much liberty as they have the intelligence to want & the courage to take." - Emma Goldman

    by gjohnsit on Mon Sep 12, 2011 at 04:33:48 PM PDT

    •  Capitalism...exactly (14+ / 0-)

      Marx wrote extensively on Capitalism's crisis of overproduction, which leads to the obscenity of grain dumped in the ocean while people starve, and housing stock falling to pieces while people beg for shelter.

      Add to this the crisis of resource limitations. Our drive to extract profits from everything is leaving us with a planet incapable of sustaining the level of production that we are asking of it, even as we fail to distribute that production in a way that benefits more than a tiny handful.

      We do indeed need to be talking about capitalism. The irrational drive to profits over all other considerations is playing out to its logical conclusion, as it always does.

      We desperately need to start building alternatives to this madness.

    •  Distribution and ownership problems plague us. (5+ / 0-)

      The homeless man living in the field next to the empty foreclosed 4 bedroom house. The starving child staring through the barbed wire at the acres of food she cannot eat. As long as we cling to capitalism we will continue to fail as humans. The problem is that there is no system with humans in control that can replace capitalism.

      How quickly the Pacifist becomes the Warrior when it's "our side" doing the killing.

      by edg on Mon Sep 12, 2011 at 05:41:46 PM PDT

      [ Parent ]

    •  Great comment (2+ / 0-)
      Recommended by:
      sentinalnode, gjohnsit

      I wish I could recommend it more than once.

      The United States is not just losing its capacity to do great things. It's losing its soul.--Bob Herbert. gulfgal98's corollary- Our soul is gone.

      by gulfgal98 on Mon Sep 12, 2011 at 06:08:25 PM PDT

      [ Parent ]

    •  well--scarcity of jobs, and scarcity (0+ / 0-)

      of natural resources--at least, scarcity of natural resources that we can get to without destroying the biosphere

      that is the other BIG elephant--or donkey?--in the room.

      instead of dealing with these two issues (the end of capitalism and the strain we're putting on the biosphere) we're permanently kept in a guest room of an asylum arguing with crazy people about why they can't eat the walls, ceiling and floor.  The walls, ceiling and floor are sheltering them from the elements, but they believe that they are godlike and impervious to the elements and so the walls, ceiling and floor are unnecessary in their view--even though they depend upon them every minute of every day.

      Nowhere do I understand that national security is a substitute for the law.---Thomas Drake You cannot tell from appearances how things will go.--Winston Churchill

      by SouthernLiberalinMD on Tue Sep 13, 2011 at 07:40:09 AM PDT

      [ Parent ]

    •  The end of scarcity? But is that really here? (0+ / 0-)

      It would seem both the limits of fossil fuels and the consequences of global warming would foreclosure such a scenario.

      At the very least, we'd need functional fusion power before we reached that point.

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