Failure and losses are the essential feedback in capitalism which clears the way for success and innovation. Eliminate losses and failure by changing the rules to protect either an Elite or the majority and you doom the system to collapse.
Is the marriage of capitalism and democracy doomed to discord? The question has been pawed over many times, but longtime correspondent M.M. recently summarized the core issue very neatly:
Isn't capitalism actually incompatible with democracy?Some wise person said "Capitalism without failure is like Christianity without hell."
I agree. Failures are an essential part of the workings of capitalism. But what happens if a very large group invests in a false or foolish enterprise, for example 70% of the citizens become involved in that undertaking. Democracy allows those 70% to change the rules instead of accepting their failure...
Here's my latest YouTube presentation with Gordon T. Long on "Peak Everything." Lots of interesting charts:
Resistance, Revolution, Liberation: A Model for Positive Change (print $25)
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We are like passengers on the Titanic ten minutes after its fatal encounter with the iceberg: though our financial system seems unsinkable, its reliance on debt and financialization has already doomed it.We cannot know when the Central State and financial system will destabilize, we only know they will destabilize. We cannot know which of the State’s fast-rising debts and obligations will be renounced; we only know they will be renounced in one fashion or another.
The process of the unsustainable collapsing and a new, more sustainable model emerging is called revolution, and it combines cultural, technological, financial and political elements in a dynamic flux.History is not fixed; it is in our hands. We cannot await a remote future transition to transform our lives. Revolution begins with our internal understanding and reaches fruition in our coherently directed daily actions in the lived-in world.
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