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.
I’d say that Marxism at least is fatally flawed. The idea that you start a Communist society by gathering all power to a central council is the issue. Once power is obtained it’s never willingly dispersed. This has been the fate of existing all communist governments
While I appreciate that Marx made a case, this is not data or evidence. It seems intuitively true, but that doesn’t really move you closer to real proof.
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.
I’m not sure if you are trying to imply automation is a good or bad thing. Looking through history, the industrial revolution was bad for the workers of the time, but in the long run massively improved the living standards of everyone. Automation is a net good in my opinion. Competition is simply an accelerator, this is not really tied to the economic system being used. In capitalist or communist systems, firms that are protected from competition (by what ever means) do not innovate as fast or as effectively (see Intel as a great example of this).
Socialism is just the precursor to Communism.
While this can be true, it is not necessarily true.
I don’t see what birth rates have to do with anything.
As your population ages, the costs to care for them raise at an increasing rate. If you don’t have enough new workers to stabilize the economic base, the burden that an aging population places on the younger generation grows until it becomes untenable.
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.
