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  1. #11
    Glowy Goopy Goodness The_Liquid_Laser's Avatar
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    Quote Originally Posted by Lark View Post
    Does anyone anticipate capitalism becoming obsolete like merchantilism or fuedalism?
    I don't think the underlying principles of capitalism will go away, but I do think how we view capitalism can become wildly different. For example could we really have capitalism before the Industrial Revolution? We could have had the principles of capitalism in place, but there was no need, because the economy was agrarian based. Capitalism as an economic philosophy was a result from work shifting away from farms and toward factories.

    You can say still say we are an agrarian society in the sense that people still need the same amount of food, but far fewer workers are needed to make it. Likewise we will always need products which require a lot of capital to make, but in the future fewer workers will be allocated to these sorts of jobs. The economy is changing primarily because of the internet (and also some other factors). But our laws will not suddenly change overnight. Instead they will gradually change to try to respond how the economy is changing. So all of our capitalist laws will still be in place to allow companies that require a lot of capital. But so much of our economy will be directed toward enterprises that do not require much capital in comparision. Publicly traded corporations will have a smaller piece of the pie. So in this type of economy, could you really call it capitalism?
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  2. #12
    Senor Membrane
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    I'm quite sure that indefinite growth is not possible, but when it ends is that which remains capitalisms anymore? De-growth is an interesting movement, but it's view on what will replace capitalism is quite sketchy.

  3. #13
    Administrator highlander's Avatar
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    Quote Originally Posted by Andy View Post
    THe world will probably more on the from capitalism eventually. It's moved on from everything else, after all. I suspect that the change will be linked to environmental change and diminishing resources. Once the cost of capitalist profiteering becomes too much society will shift again.
    I agree with this. Once the social cost of the externalities becomes too high, there will be pressure for change. I think.

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  4. #14
    Order Now! pure_mercury's Avatar
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    Quote Originally Posted by highlander View Post
    I agree with this. Once the social cost of the externalities becomes too high, there will be pressure for change. I think.
    What do you mean by externalities in this case? Also, what about the positive externalities?
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  5. #15

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    Quote Originally Posted by highlander View Post
    I agree with this. Once the social cost of the externalities becomes too high, there will be pressure for change. I think.
    Well I do think there's a huge problem with its inability to calculate the costs properly on most of its externalities, the current recession and crisis should have also made it clear that free, supposedly self-regulating markets are not good at calculating costs of risk in finance even, which along with price adjustments for generic, fast moving consumer goods is meant to be one of its great strengths.

    However you'll always run up against the storm troopers who'll tell you capitalism was betrayed not failing, that it was the individuals steering and not the system (drunk driving analogy) or not that markets where free that resulted in failure but not free enough (the revolution/ideology is not at fault but moderation in its application).

    I'm generally unimpressed because the same or very similar psychology and argumentation was once deployed or characteristic of the worst examples of Marxism.

  6. #16
    Senior Member wildcat's Avatar
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    Quote Originally Posted by Lark View Post
    Does anyone anticipate capitalism becoming obsolete like merchantilism or fuedalism?
    Not any more.

  7. #17
    Alexander the Terrible yenom's Avatar
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    No, because of greed and scarcity.

    People always want more, and money will always motivate people to create more.

    We might however, reach an age where our basic needs are satisfied without a lifetime of work. The population is always growing, and the supply of resources will always decrease or remain constant unless someone work to create more wealth.
    The fear of poverty turns people into slaves of money.

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  8. #18
    Alexander the Terrible yenom's Avatar
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    One way it could work is that we all become self sufficient. Then we depend less on the work of others to support ourselves. But I doubt people will create stuff and not sell them if they have value, and because of greed.

    You can only improve capitalism , you cannot destroy capitalism.
    The fear of poverty turns people into slaves of money.

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  9. #19

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    Quote Originally Posted by yenom View Post
    One way it could work is that we all become self sufficient. Then we depend less on the work of others to support ourselves. But I doubt people will create stuff and not sell them if they have value, and because of greed.

    You can only improve capitalism , you cannot destroy capitalism.
    Destroy? I wasnt thinking that way at all, I was thinking about transcending capitalism because of its obsolescence, like either fuedalism or mercantilism, which, for instance, no one but a minority in, for instance, the US or EU would want to seriously see return as an alternative to present business practices.

  10. #20
    Senior Member LunarMoon's Avatar
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    Discobiscuit is correct in that it’s built into us as a species. The thing is that feudalism merely existed amongst capitalism in the first place. You would still pay the local black smith to forge the shoes of your horse, even amidst your work-safety exchange between you and the lord of your fief. Capitalism has always existed, first in the form of bartering and then in the form of minted monetary exchange. Even small children will barter off the candy to receive more chips and chimpanzees have been shown removing the scabs off of each other in exchange for prostitution.
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