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Cake day: June 16th, 2023

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  • IMO this is an unpopular opinion mainly because capitalism is a terribly polarizing word which now means different things to different people. On the left, it’s associated with imperialism and oppression. Among moderates and liberals it means the flawed ideology which beat something even worse, i.e. communism.

    But the original meaning of capitalism was basically: accumulation. In other words, economic growth. And I think the jury is now in on this one. In the end, exponential growth is just not compatible with a living planet. The evidence is mounting on all sides. One example: the only period in recent history when the environmental indicators were all pointing the right way was the short deep recession that followed the financial crisis. That says an awful lot.

    As a liberal I’ve changed my mind on this subject and I now agree with you.