You’re stumbling upon a fundamental contradiction of capitalism that Marx wrote about. The rate of profits tends to decline over time and what you’re describing is the end result of that. Capitalist always attempt to fight against this contradiction to delay the inevitable crash but they can only delay. Them paying less while working people more is the fundamental way the markets attempt to delay the crash. But, again, it is only ever a delay. We are heading into a crash not seen since the great depression. It’s why they are pushing automation and AI so heavily. They are preparing to capitalize on the economic catastrophe that they are creating. Crashes are not “bad” for capital owners. They are a feature that allows for further wealth concentration.
No one can predict the crash though. Not even the billionaires that control the markets. And it can bubble for decades before it pops.
I think the only way that capitalism could survive is if progress somehow continues. That is why they’re pushing for Mars settlement so hard: Because the real growth would be progress that justifies capitalism and gives it more time to move on.
You’re stumbling upon a fundamental contradiction of capitalism that Marx wrote about. The rate of profits tends to decline over time and what you’re describing is the end result of that. Capitalist always attempt to fight against this contradiction to delay the inevitable crash but they can only delay. Them paying less while working people more is the fundamental way the markets attempt to delay the crash. But, again, it is only ever a delay. We are heading into a crash not seen since the great depression. It’s why they are pushing automation and AI so heavily. They are preparing to capitalize on the economic catastrophe that they are creating. Crashes are not “bad” for capital owners. They are a feature that allows for further wealth concentration.
No one can predict the crash though. Not even the billionaires that control the markets. And it can bubble for decades before it pops.
I think the only way that capitalism could survive is if progress somehow continues. That is why they’re pushing for Mars settlement so hard: Because the real growth would be progress that justifies capitalism and gives it more time to move on.