Why Capitalism Is Doomed According to Joseph A. Schumpeter

jonasanksher.substack.com

4 points·paulpauper··3 comments

Nope, capitalism is not doomed. There seems to be a cycle of capitalism to socialism and back, like a never-ending sine wave. When one becomes too extreme, we switch to the other. It's not a 100% switch, but it's enough to create a balance. It's a delicate balance, since going too far in either direction may result in a civil war.

Even in the utopian future that AI supporters are selling, a future where all our needs are met, people will find needs that can't be met by AI. So the cycle will continue as a way to allocate resources.

The problems we are seeing in the world today are simply different faces of the same problem.

We dont live in an infinite world, many if not all of the worlds major problems are consequences of this.

There is only so much water and im not even constraining that to clean water. There are many wars waiting to happen because of this, the Nile.

Housing around the world is another example. Too many people are moving around, not limiting this to immigration, im simply saying even citizens in the same country move from place to place. Moving is easy, building houses is hard and costs years. The later is a catchup game and will always be behind and as more people move around the system gets more and more stressed.

I also think many of the actions for example in America, show that they have changed from trying to create new value and are trying to sell perceived value.

Thank the gods for the socialism that led to the interstate highway system.

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