We know that investment causes growth. But it is also true that growth causes investment.
Jim Stanford
One of the glaring failures of capitalism is the continuing widespread existence of poverty - often extreme poverty. Even in the advanced economies, many millions of people endure terrible economic and social deprivation, despite the incredible wealth all around them.
poverty extremes failure wealth people
Growth can also involve producing services instead of goods. In particular, a major expansion of public and caring services (like child care, education, elder care, and other life-affirming programs) would generate huge increases in GDP and incomes, with virtually no impact on the environment.
environment growth life the-public education
Like a forensic accountant trying to solve a corporate fraud, following the trail of money around the circle is a good way to understand what actually happens as capitalism unfolds.
circles money
Employers crave the power to fire workers whose performance is judged inferior-not just to get rid of those particular workers, but more importantly to motivate and discipline the rest of the workforce.
discipline power rest
The problem is not scarcity; the problem is power.
power
Try this: say the words global, global, global aloud several times, as fast as you can. You'll find yourself sounding like a turkey (gobble, gobble, gobble).
thetimes time
Competition-ruthless, unforgiving, to-the-death competition-is a crucial feature of capitalism.
competition death
Capitalism, in contrast, has existed for fewer than 300 years. If the entire history of Homo sapiens was a 24-hour day, then capitalism has existed for two minutes.
contrast history
The only factor that poses a genuine challenge to the current order is the willingness of human beings to reject the injustice and irrationality of this economy, and stand up for something better. Capitalism will not fall-rather, it must be pushed.
challenge order
Economics is a social science, not a physical science.
science
Economic systems come, and economic systems go. No economic system lasts forever. Capitalism is not likely to last forever, either.
system
Apart from their work and production, households perform other important economic functions. Most CONSUMPTION occurs within the household.. In developed capitalist economies, private consumption spending accounts for half or more of GDP.
work
Never trust an economist with your job. Learn about economics yourself. And make up your own mind about what might protect your job-and what might destroy it.
trust mind
Proving that profit is economically and morally justifiable, rather then the result of exploitation, has been a central preoccupation of neoclassical economists.
results
growth
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