Global capitalism has written off the human race

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http://www.paulcraigroberts.org/2014/02 ... g-roberts/

Thanks for the article.

Greed associated with capitalism isn't new. It's just another part of NT society they don't like to talk about (hide away so they look more "Christian"?).

"When the crunch comes, the capitalists will let the “other” humanity starve." .............just reminded me of The Great Potato Famine where the potatoes were there but the poor Irish families couldn't afford them and starved when they were shipped to wealthy buyers.

denny

I think we face a crazy dilemma where Group Interests and Individual Interests are at odds with each other.

It seems like there must be a way to bring these interests into harmony. I think many people like Warren Buffet even see the futility of the direction we're going in. If you destroy human labor, you are literally ruining the pool of people who are your potential customers.

[youtube]http://www.youtube.com/watch?v=czD4deDIgiM[/youtube]

And if you pay good wages you create more customers and still get filthy rich... That's the lesson Ford taught us nearly a century ago. Too bad we have such short memories.

One piece of anecdotal evidence does not make an argument. Where is the empirical data to support that paying higher wages increases profitability?

Reading that article made me completely sure we are at that stage just prior to when most people are going to be annihilated by those in power. I want to write that story he proposed about the robots serving the rich in a largely unpopulated world.

There can be no doubt that in the UK and from what it sounds like in the US too our society is gradually being dismantled. We are undergoing massive cuts in public spending, the unemployed are facing harsh cuts when there are hardly any jobs to go to. It is as though our leaders are winding us down and I wouldn't be surprised if the banks and business people abandon the UK altogether soon in order to go and reap the markets of China and Brazil. We will be left in a dictatorship in a police state soon (that's if David Cameron doesn't decide to sack more of our police force).

I presume he means that giving people more disposable income will be good for the economy as they are likely to buy more goods and services.

NT society ?

That almost sounded discriminatory

Almost like the kind of stuff aspies have to deal with.

If you don't want to be discriminated against, please don't do the reverse thing.

Once a group of people have gathered enough money, they can buy the world, once they own the world they no longer have any need for a money making device for you dont buy things from yourself.
Then its just a question of getting rid of all those billions of other useless eaters ruining your world that you completely own, maybe keep a handful of them to use as slaves, then just lie back and enjoy your paradise.

I think they call it, The New World Order.

This is also questionable. Economic growth is the result of capital investment, not consumption.

I think what Henry Ford did was great, but he gets too much credit. He did not single-handedly create the middle class, and his technique is not a proven method of increasing profitability or improving the health of the American job market. Without empirical data to back it up, the risk of increasing wages unnecessarily is way too high, especially in a highly unstable regulatory environment. It's very unlikely you'll see a move like Ford's with such a meddlesome government.

Well what do you do with ten billion unemployables?

Robots would be best for building robots.

Farming and manufacturing have already been automated.

It was not the Capitalists or the machines, it was the customer demand for more and cheaper goods.

It is all driven to meeting consumer demand.

Capitalists do not think long term, markets and products, factories, do not last.

Almost all of the workers of fifty years ago are dead. It is the system, always has been.

When they died at forty, we needed to breed lots, but kept doing it even when they worked another twenty years.

Births exceed deaths, and that is the only place to bring change to the system.

If you want a higher standard of living, a long life, there has to be a lot less people.

[youtube]http://www.youtube.com/watch?v=B3u4EFTwprM[/youtube]

BS.

Invest all you like. Without customers your investment will fail. Living wages IS AN INVESTMENT THAT CREATES A MARKET.

You just figured this out thomas81? They have been doing this for years, the human race is just the massive collective that big time corperate leaders use to make money off of.

Without products your consumption will fail. I don't know why you're attempting to argue using that approach. An exchange requires the participation of both parties. The exchange itself does not result in growth and isn't a particularly good measure of the economy.

Growth is the result of applying capital goods to production. There's nothing complicated or clever about this. The country's production capability increases through investment in capital goods. It doesn't increase through the consumption of consumer goods.

It seems to me that you are emotionally attached to this issue. It offends you that wages are low, so you try to justify your position by claiming that high wages will help the economy. I'll agree with you that low wages are a struggle for many people and I'll respect social contract arguments for a legally imposed minimum wage even though I disagree with that belief system.

But I won't accept an argument that simply raising wages across the board is good for the economy. Raising wages like that is nothing more than price fixing, a practice which is clearly unhealthy for a market economy.

You need to get in touch with reality my friend. The last economic boom we had was COMPLETELY driven by consumer DEMAND financed via home equity loans.

Your whole horse & sparrow/voodoo economics theory is a fantasy. Even WalMart has been forced to acknowlede the fact that poor domestic sales are due to sh***y, LOW WAGE JOBS!! !! !! !! ! They are making more and more cheap crap in China, but NOBODY IS BUYING ANYTHING BECAUSE THEY DON'T HAVE ANY MONEY.

That's why WalMart is spending $50 billion to bring manufacturing jobs back to America. If you starve the Golden Goose long enough, it stops laying eggs.

Build all the crap you like, without consumers all you'll get is a recession.