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Politics : View from the Center and Left

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To: Wharf Rat who wrote (136741)	4/16/2010 12:13:22 PM
From: Wharf Rat	Read Replies (1) of 543429

The Future of Capitalism - Profits and Growth Posted by Gail the Actuary on April 16, 2010 - 9:50amGrowth Feasibility == Growth is only possible when energy flow is increasing. It is pretty simple really. When energy flow is increasing in each subsequent time period it is possible to increase the amount of work devoted to increasing the asset base of society. Alternatively, if the energy flow is decreasing... == An Uncomfortable Conclusion The conclusion is not comfortable but is imperative. Capitalism, as it has been practiced in a market and democratic governance system, is going to die. It will die in one of two ways. Either people will start to exercise some rationality and some wisdom and realize that as the energy supplies diminish the capacity to do useful work also diminishes. They will then seek to reorganize our governance structures/institutions in such a way as to rationally respond to the reality. Somehow I have a hard time seeing this kind of response. From outright denial, to outright insistence on exceptionalism and blind faith in market mechanisms, I suspect that most people will be blind-sided by reality. Message 26466486

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