How long will capitalism last?

[Baruch]

If we have a global economy, then we need a one world State with totalitarian power.  No more Apple hiding billions in taxes owed the US ... in foreign locations.  Your accounting is wrong, because it hides both short term and long term expenses ... like the cost of global warming caused by Chinese factories.

On the other hand, the economy wouldn't collapse if y'all had to use a flip phone like I do.  4G connectivity, cloud data management, Seri, apps etc ... we never needed that before ... why do we need it now?

In the future, you either have clothes, food and shelter or you don't.  That is the real economy, not creative accounting like negative interest rates.  If you don't work, you don't eat.  None of that requires high tech.  Horses and sailing ships are solar powered transportation.

[reasonist]

On the other hand, the economy wouldn't collapse if y'all had to use a flip phone like I do.  4G connectivity, cloud data management, Seri, apps etc ... we never needed that before ... why do we need it now?

We don't really need it. We are told all day that we do. That's why companies spend so much on advertising. Their job is to create a need where there isn't any.

[GSOgymrat]

We don't really need it. We are told all day that we do. That's why companies spend so much on advertising. Their job is to create a need where there isn't any.

Being content with what you have is un-American.

[SGOS]

The price of an iPhone is what buyers are willing to pay.  I doubt that the cost of manufacturing one is more than $200 in the US or China.  I'm sure that Apple can make it cheaper in China, and good for them.  But made in China or the US, the price to consumers will be whatever Apple can convince consumers to pay (this is the cornerstone of capitalism).  I've watched places like LLBean as they gradually changed over to selling things like foreign made shirts.  While this certainly increases profit, I do not ever recall a noticeable dip in prices for consumers.  But I have noticed the prices keep going up.

[Baruch]

We don't really need it. We are told all day that we do. That's why companies spend so much on advertising. Their job is to create a need where there isn't any.

Sometimes it actually is a useful and inexpensive invention ... like buttons on clothes for folks living north of the Med ;-)

[reasonist]

Sometimes it actually is a useful and inexpensive invention ... like buttons on clothes for folks living north of the Med ;-)

But most of the time it's not. Having the newest model of some thing or the faster, bigger, stronger version of an 'older' model that's barely a year old and working perfectly, that's what I am talking about. The gadgets we all love and think we can't be without anymore, the stuff that lasts for a few uses and then be discarded because it costs more to repair than to replace, that is what keeps the economy going and shareholders happy. I am old enough to remember when items were made to last and pride was taken in their making, but those days have long gone. Mass production has replaced craftsmanship to a large degree because we want cheap goods. And we got what we asked for.

[Cavebear]

If robots become sufficiently agile, we will inhabit the robots. 

[Baruch]

If robots become sufficiently agile, we will inhabit the robots.

They inhabit us ... micro-minaturization is something they can do and we cannot.

[fencerider]

Capitalism will last until the rich bastards are holding all the money in the world in their hands. It seems to be beyond their comprehension that the whole system shuts down if no other people besides themselves have any money in their hands. ... probably 50 years tops before Wall St completely destroys the U.S.

[Shiranu]

But most of the time it's not. Having the newest model of some thing or the faster, bigger, stronger version of an 'older' model that's barely a year old and working perfectly, that's what I am talking about. The gadgets we all love and think we can't be without anymore, the stuff that lasts for a few uses and then be discarded because it costs more to repair than to replace, that is what keeps the economy going and shareholders happy. I am old enough to remember when items were made to last and pride was taken in their making, but those days have long gone. Mass production has replaced craftsmanship to a large degree because we want cheap goods. And we got what we asked for.

Then flip phones weren't the best example, since you are comparing a minimally useful piece of hardware, good for only transferring information between two parties, with something that has access to all the information humankind has ever gathered.

I am old enough to remember when items were made to last and pride was taken in their making, but those days have long gone.

Same, though I am only 26. You just have to look outside your convenience store. Buy local and fair trade.

[Baruch]

Buying local ... is communist, it helps Putin take over the world (point to anything The Man doesn't like ... they can blame Putin).  You absolutely need to buy everything you drink, eat and use .. from China and Mexico.  The plutocrats who own you, demand you do.

[reasonist]

... pay double the price. That's exactly the dilemma we were discussing.

[Baruch]

... pay double the price. That's exactly the dilemma we were discussing.

White collar crime ... sell half good products/services for double the price.  Look at Sears vs Bain Capital ... the tax code works with capitalist self-destruction ... for the profit of crooked CEOs and financiers.

[The Skeletal Atheist]

Capitalism will last until the rich bastards are holding all the money in the world in their hands. It seems to be beyond their comprehension that the whole system shuts down if no other people besides themselves have any money in their hands. ... probably 50 years tops before Wall St completely destroys the U.S.

It's like an episode of hoarders except it's playing out on a global scale.

[Unbeliever]

What do we do to the 80% who aren't actually doing labor? How should a postjob, postcapitalism society work?

Isn't that what wars are for?