Reply To: (Is this really ) How Capitalism is Killing Itself?


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#33886 Reply

Loony

@ Phil – There are many problems. One of which is that population continues to rise and yet, due to technology, demand for labor is falling. How does this fit with Marxism or indeed any other ism?

What are these surplus people supposed to do?

In theory China is capable of satisfying global demand for substantially all manufactured products. How will people outside of China earn money to pay for the product of Chinese labor? China is unlikely to convert itself into a slave economy for the world – why would it?

How is Europe supposed to continue to fund its all encompassing social security system? Taking money from the rich is not likely to be an answer as most of their wealth is purely fictional. (If you own a $50 million house in London and you take money from all of these people than there is no-one left to buy the $50 million house and hence the house is no longer worth $50 million).

If there more people, less jobs, and an inability to continue funding social security then there appears to be a problem. Remember not all problems have solutions.