Living Through the Death of Capitalism
Joe Brewer
32643

As a student of “rational” economics who has long since realised what I was taught bears no resemblence to what actually happens, I can see what you’re saying. I also believe you on the climate science.

Perhaps this is the transformation of capitalism instead into something else, and for something to transform the old has to get swept away first. Capitalism in its purest form is about the flow of funds to their most efficient use, based on an assumption of scarcity. Hoarding by the top 1% (of which many of us are part) actually blocks that flow of funds — in Australia we are obsessed with residential property, pricing people out of the market for the have nots and tying up capital for those who do own property. The one economic value created is keeping a lot of tradies employed, which does keep money moving through the system.

The technology revolution has also revolutionised business models — scarcity is no longer a factor. Your capacity to delivery is now only constrained by getting the attention of your market in a very noisy world.

The true irony is that distribution of wealth across many is good for economic growth. Those with less will spend it on essential service which pumps it straight back into the economy. Those with more won’t. The movement of money is one of the most significant factors that underpins the health of any given economy.

I agree with you this transition will be lively. I also am a student of history and the theme that comes across is the necessity of that upheaval for transitions to occur (for us to evolve, as it were).

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