WHY YOU SHOULD BE A SOCIALIST...
David Harvey:
The total economy back in, say, 1750 was about $135 billion. It was $4 trillion by the time you get to 1950. It’s $40 trillion by the time you get to 2000. It’s now $56 trillion. If it doubles in the next ten years, we’re talking about $100 trillion. And by 2030, you’re going to have to find three trillion [...] profitable opportunities for capital to operate at that point.
Now, there are limits [...] and I think we’re hitting those limits environmentally, socially, politically. And I think it’s time we started really thinking about an alternative. In other words, we have to think about a zero-growth economy
And that means [...] it has to be non-capitalist, because that means there’s not going to be any profit around for anybody to have. In effect, you’re going to have to have a nonprofit economy.
Interview with David Harvey on Democracy Now! here.
posted by paddington at 11:06 AM
3 Comments:
Inflation does not equal profit.
The monetary base can expand in a socialist state thus providing inflation.
That quote does not make sense.
That's because you are for some reason assuming that Harvey says inflation equals profit. What he says is that growth causes profit and vice versa.
Then he shouldn't use the notional, (non-adjusted for inflation) value of the whole economony as a measure of growth, because it isn't. Thus showing a lack of economic understanding. Therefore, justifiably, prejudicing me against the rest of his outlandish statements.
Furthermore, growth does not necesarily cause profit.
The predictions and assertions quoted are completely unrealistic.
[i]you’re going to have to find three trillion [...] profitable opportunities[/i]
[b]A completely meaningless statement.[/b]
[i]there are limits [...] and I think we’re hitting those limits[/i]
[b]What are these limits ? What evidence is there of these magical limits[/b]
[i]In effect, you’re going to have to have a nonprofit economy.[/i]
[b]He's predicting a completly non-profit western economy. That is complete baloney.[/b]
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