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View Diary: Bill McKibben on the End of Growth (151 comments)

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  •  Really. Bottom line is, socialism or extinction. (5+ / 0-)

    Capitalism is not free enterprise.  Capitalism is a system whereby economic profit accrues to capital, and economic decisions are made by capital.  

    And it depends absolutely upon growth: profit on equity and interest on debt require growth.   Take away growth and the rest of it stops dead.

    One can build a steady-state (no-growth) economy while maintaining freedom of enterprise for private sector activity.  But that means a thriving small business sector, which is not the same thing as capitalism.  Under the thriving small business sector would be a socialist economy for finance and for raw materials and energy resources.

    Either we're going to do that or we are going to spiral down the drain and back to the caves, if we're lucky.

    "Minus two votes for the Democrat" equals "plus one vote for the Republican." Arithmetic doesn't care about your feelings.

    by G2geek on Sun Apr 08, 2012 at 06:13:29 PM PDT

    [ Parent ]

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