It doesn’t fail. It succeeds horribly.
It also fails, though. It’s unsustainable, Capitalists sew the seeds of their own downfall. They just hope they enjoy the ride and pass the buck off to someone else.
If capitalism fails.
It will fail, inevitably. It’s unsustainable.
It’d been unsustainable for thousands of years, and yet here we are.
Capitalism is only a few hundred years old, what do you think we are talking about?
I remember reading a Guardian article in which it discussed the requirements of any market to either evolve or die based on the circumstances it finds itself in.
It highlighted that because Communism could not adapt quickly enough to its circumstances that it failed - the centrally governing authority were not able to efficiently or effectively govern the market at the time. Leading to multiple issues.
I would like to see the evolution of Capitalism. That we do not view everything only through an economic lens- there needs to be environmental, societal and political factors which must also be taken into account.
That and personal accountability and responsibility for business practices. For example you can pollute that waterway but we will take all your profits and you go to jail for 30years
Capitalism evolves into either Socialism or fascism, so we should push for Socialism.
Reading the comments here reminds me of that Slavoj Žižek/ Fredric Jameson quote:
It’s easier to imagine the end of the world than the end of capitalism.
If there isn’t a large Socialist coalition to combat fascism, then fascism will rise before collapsing even harder. If there is a large Socialist coalition, and that coalition successfully combats the fascist powers, then some form of Socialism will likely replace it, and humanity can continue progressing instead of regressing.
