Capitalism is itself based on constant growth. There is a fundamental misunderstanding with this article (and most of our society) and that is the conflation of capitalism and a free market. A truly free market is not necessarily capitalist, and actually capitalism doesn't lead to free markets. This confusion is messing up everyone's thoughts. What we like is the free market, the natural bottom-up interactions that help determine prices and such. Free markets have nice features.
Capitalism is about profit and growth and the instant you think it isn't going to fail, everyone might as well speculate like crazy (why not? if it isn't going to fail…). The only way for capitalism to work is for everyone to realize that it is inherently unstable and likely to fail. And that realization is true also.
We can still advocate for market freedom without advocating capitalism.
Capitalism is about profit and growth and the instant you think it isn't going to fail, everyone might as well speculate like crazy (why not? if it isn't going to fail…). The only way for capitalism to work is for everyone to realize that it is inherently unstable and likely to fail. And that realization is true also.
We can still advocate for market freedom without advocating capitalism.