Matthew Schneider-Mayerson is a Ph.D. candidate in the Department of American Studies at the University of Minnesota. He has published articles on American history, politics and literature in journals such as American Studies, Radical History Review, Studies in Popular Culture and The International Journal of Sport & Society. In his dissertation, "Peak Politics: Resource Scarcity and Libertarian Political Culture in the United States," and a forthcoming article in Environmental Politics, he explores the 'peak oil' movement in the context of contemporary responses to environmental crises and the rise of libertarian ideals in American political culture.
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In 50 years, short of thermonuclear war with China or Russia, capitalism will grow and be doing just fine despite all attempts to stop it and this guy will be another gray-haired frustrated old communist.
He's pushing for a different model of society, yes, where we can't equate success and growth. This doesn't have to be communist though. We can value the success of businesses but require that businesses not harm the environment. That means no more fossil fuels, all electric cars and renewable energy, and producing everything with a sustainable model that demonstrates how you will replace the resources you are using. Otherwise the extinction of species, drought, sea level rise, migration crisis and conflict over resources that is already happening will become worse and worse.
You have to rid out all of these communist theses, else it will be another story of USSR. I can assure you that such society has nothing in common with ecology or thrifty. Capitalism is not bad, it's like democracy, we haven't invented any better solution. Wall Street is not bad. The only demonish thing is humanity unawareness in ecology and lack of the government control.
Holdup if capitalism is causing water usage and deforestation than what difference will it make with other systems of government? Population growth is inevitable and if we're giving a house to everyone besides if they need it or not then wouldn't we cutting down more wood, or supplying more people with water? What do we need to do?
You can't eat money and you can't run you car or generate electricity with it. Money is only a marker, a contract for real, tangible resources (energy being the primary one, followed by water and arable land, etc.). Printing more money or having access to money only affects the distribution of wealth, it does not represent a substitute for real wealth. Given that our current economic paradigm is predicated on constant exponential growth and that it is damaging, even destroying the real, physical biosphere upon which everyone and every living creature depends for their survival and prosperity, it is axiomatic that this economic approach is not sustainable and will not be viable in the not too distant future. Mayerson's thesis is based on science, on hard facts, on the reality of Population Overshoot beyond long term Carrying Capacity by way of a finite endowment of fossil fuels having served to increase carrying capacity temporarily. The energy and other resource surpluses upon which Neo Classical economics and capitalism in it's current form are based, is currently in stasis. Fossil fuel production is on a bumpy plateau, soon to decline globally, and no monetary system or monetary policy tweaking will solve or even begin to address that problem. Mitigating declining resource quality and scarcity, along with global warming, will require a new adaptive approach, and one that is not dependent on the assumption of an infinite carrying capacity.
Capitalism has failed every time IF IT ISN'T SUPPORTED BY GOVERNMENTS AND FEDERAL INSTITUTIONS.
Banks can borrow from the Federal Reserve (YOU can't) at NEGATIVE real interest rates. Three quarters of a percent, lower than the inflation rate. In essence, the Fed PAYS THEM to take the money. The banks can then lend the money out at retail rates at any rate. 6% on the biggest and best companies, 30 percent to you on your CC if you have a bad credit rating. Banks use "fractional reserves" to calculate how much money they can lend. The normal now is much lower than it was in the wild west days of the early 2000s. It's usually eight times their reserves….your money they hold for you and pay you perhaps two tenths of a percent. Or nothing for a lot of checking accounts. They are lending eight times the money they actually have. This CREATES new money to the tune of 800 percent with nothing to back it. In fact, the debts owed to them are held on their books as ASSETS. Since all business activity creates debt, it also creates an inflation in the amount of money in the economy. The economy MUST grow rapidly to be able to close the loop, to pay the money back. Infinite growth is required on a finite world with finite resources. It is a Ponzi scheme writ LARGE.
FYI, there have NEVER been free markets in the US. Never at any time when fiat currency has been used. Free markets can be seen in barter systems, but that's about it.
Presentation built off of two false premises; unlimited growth is a tenant of capitalism and that the last 50 years has been a representation of capitalism in action. Ignoring that capitalism has nothing to do with unlimited growth but simply reacts to the availability of resources,high or low, through the price system. Also ignoring that over the last 100 yrs the world has been developing advanced mixed econs.
why are you being such a buzz kill i think we are doing grate burning up oil as fast as we can cuten down down trees modifying plants and animals to replace anything natural that ever existed destroying our soil with our spray and fake fertilizer what could go wrong? ooo i bet its that damn bill gates or some aliens causing all the problems we have your welcome lol
which free markets? certainly not for the major industries...oligopols, monopols are the dominant forces in capitalism ...which is nothing but the use of technik to produce profit, but it is the distribution of those profits that has gone wrong ...(by cap. nature)
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