Maybe so. Maybe capitalism can never remain checked because the temptation to acquire more wealth will always end up winning. You’d like to think that people are better than that, buuuuut…
Which system IS stable? AFAICT every system ever has allowed some people more power than others and those people cleave more power to themselves over time. This appears to be how most empires fall
Good question! The oldest government still in operation appears to be San Marino, a tiny country near Italy, at around 415 years. Considering that even at a small size it’s only been around that long despite civilization being around 6000 years old, I think it’s safe to say we haven’t managed a system that has real staying power yet.
There’s hunter-gatherer tribes that have been more or less stable for over a thousand years. It’s said that the Nez Perce have lived on the Columbia River for 11,500 years.
That is an interesting argument, but where is the proof? Economics is a very murky “science” as it is, a broad statement such as “capitalism is inherently unstable” needs some healthy data backing it up.
The same argument could be made about communism, as an economic system it doesn’t have the best track record.
Socialism seems to have a pretty good track record. But even in socialism there are issues, especially around ensuring a steady supply of kids coming through, once population starts falling the cracks start appearing.
That is an interesting argument, but where is the proof? Economics is a very murky “science” as it is, a broad statement such as “capitalism is inherently unstable” needs some healthy data backing it up.
Marx makes his case for it in Capital, specifically Volume 3, Chapter 13-15, though it’s easier to digest Wage Labor and Capital and Value, Price and Profit. Essentially, competition forces prices lower, and automation and increased production lower the price floor. Automation is pursued because it temporarily allows you to outcompete, until other firms can produce at the same price, forcing prices to match at a new floor. This continues. It’s more like gravity than an invisible hand, there do exist ways to push back against it, but the overall trend is negative, as the Rate of Profit falls to 0.
The same argument could be made about communism, as an economic system it doesn’t have the best track record.
It can’t, because Communism abolishes this system. Communism has a good track record when properly put into historical context and is definitely the correct goal to pursue.
Socialism seems to have a pretty good track record. But even in socialism there are issues, especially around ensuring a steady supply of kids coming through, once population starts falling the cracks start appearing.
Socialism is just the precursor to Communism. The USSR, Cuba, PRC, Vietnam, Laos, etc. are/were all Socialist, building towards Communism, I don’t see why you say Communism has a bad track record but Socialism has a good track record, that seems contradictory. Further still, I don’t see what birth rates have to do with anything.
There are a lot of capitalist countries that haven’t collapsed yet. We’ll need longer than our lifetimes to see proof that it can never work.
But I suspect that people in power just aren’t good enough to keep it from going bad eventually.
There are a lot of capitalist countries that haven’t collapsed yet. We’ll need longer than our lifetimes to see proof that it can never work.
It’s more that it’s unsustainable. Collapse can be delayed, but not outright prevented as long as the Tendency for the Rate of Profit to Fall exists.
But I suspect that people in power just aren’t good enough to keep it from going bad eventually.
It’s already “bad,” just constantly decaying.
