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Unustainable forces of production/consumption: Capitalism

  • Advertising creates unsustainable needs
  • Wellbeing/status measured by consumption
  • Wages stop growing equal to productivity in 1970's
  • Workers exploited more > solace in consumption
  • Encouraged to Borrow Unsustainably

see http://vimeo.com/1962208 (Rick Wolff)
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Unustainable forces of production/consumption: Capitalism
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Wage increases stop matching productivity in 1970's
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Advertising consumption as the only measure of well-being/status
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Banks encourage borrowing to ensure continued consumption
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colleges mischaracterize capitalism to support for central planning
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Workers replace power in workplace with consumption
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Money is created through interest bearing loans.
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Unintended consequences of earlier public policy choices
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Lack of financial literacy.
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Accountability Mechanisms ill-suited for Network Style Dec-Making
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Global Savings Glut
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Human cognitive biases
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Increased power of finance capital leading to rent-seeking behavior
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Natural financial dynamics of the baby boom generation
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Graph of this discussion
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