by Summary:
Capitalism is inherently unstable
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Capitalism is inherently unstable
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
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| Capitalism is inherently unstable |
Any capitalist that couldn't admit this is severely ignorant or delusional. Capitalism is all about risk; there are good and bad choices with risk. Simple random chance makes it an absolute certainty that bad choices are made. On good market trends, bad choices can hide and be carried by exuberance. So bad risk build up in the economy, and when market forces go down, nearly everything goes bad at once, and even good companies have to cut to the bone to survive. This isn't a Marxian or socialist analysis, but what capitalism says about itself.
How about Communism?