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View Diary: ACM: The Media Landscape After the Culture War (45 comments)

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  •  In a capitalist economic system, the need for (6+ / 0-)

    constant growth derives from the need for ever-increasing profitability and profits are the only reason for production and distributional decisions. We cannot change the system and we have seen that managing it (a la Keynesianism) is easily undermined as soon as they are able to do so. The current attack is the culmination of a process beginning in the 1970s which is undermining all reforms and including the links between wages and productivity. Wages have been stagnant and are now falling and social welfare states and the state sector (which ensured higher levels of employment) are being undermined throughout the advanced capitalist world under the justification of competition (as though competition will do anything except undermine wages and benefits further) ... people seem not to understand this basic point of what competition actually means ... that is another part of ideology being imposed and interpreted as reality.

    "Hegel noticed somewhere that all great world history facts and people so to speak twice occur. He forgot to add: the one time as tragedy, the other time as farce" Karl Marx, The Eighteenth Brumaire of Louis Bonaparte .

    by NY brit expat on Sun Dec 29, 2013 at 03:59:04 PM PST

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    •  Seems to me that debt is important here. (4+ / 0-)
      Recommended by:
      annieli, Shockwave, northsylvania, AoT

      The need for growth comes from the fact that businesses are always borrowing against future revenues.

      The free market is not the solution, the free market is the problem.

      by Azazello on Sun Dec 29, 2013 at 04:57:19 PM PST

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      •  not really, the need for growth is dependent (3+ / 0-)
        Recommended by:
        Azazello, annieli, JayRaye

        upon the relationship with profitability due to increasing use of technology which enables relatively less labour in production while at the same time requires sale for the goods. It is a dynamic problem; debt for corps is not a problem as long as the goods are sold ... fixed capital wears out over time and doesn't require immediate replacement. Debt for continuing production or upgrading to new tech can be repaid easily if the goods are sold. Even those not immediately sold can be warehoused unless they have a short shelf life and that is mostly a problem with certain agricultural goods rather than anything else. So, it is not a debt problem that leads to the need for constant growth; it is the eating away of profitability due to rising wages and decent working conditions as well as the introduction of machinery which enables increased surplus but may impact upon realisation. Debt is less of a problem for corps than it is for individuals ...

        "Hegel noticed somewhere that all great world history facts and people so to speak twice occur. He forgot to add: the one time as tragedy, the other time as farce" Karl Marx, The Eighteenth Brumaire of Louis Bonaparte .

        by NY brit expat on Mon Dec 30, 2013 at 05:33:47 PM PST

        [ Parent ]

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