Looks like we get a minor recession every 8-10 years.
This guy is a bit loony.
Besides, even if everything he's saying is right, and capitalism is bad... now what? Should we go back to singing kumbaya in the jungle?
I say we keep it moving. All we need to do is get to a point in our society where Humans can choose to live on a space station. From there, we will have a small enough society that it can truly govern itself. It will really help create harmony between it's inhabitants.
So the only options are capitalism or primitivism? The fact that there are constant recessions means that that system doesn't work. We won't be able to colonize space for a long time and even when it is possible, who do you think is going up when a starbucks coffee cost £17, the people who can barely make ends meet or the super rich who don't notice one recession to the next? Exactly, so the only thing that changes is the rich leave earth with their riches causing the value of currency to increase and the poor to become even worse off.
There are alternatives to capitalism.
I agree with you. We need a space station colony. Perhaps 100,000 individuals. This closed system might be small enough in size that jobs can be created to accomdate the population by the democratic and self governing system of management of that space colony. In addition to this, it will be ineveitable that this space station will generate content that will be valuble to Humanity, and this would generate trade between each colony, and guarantee similar technological levels.
If we assume Humanity is technologicaly capable of having a fully sustainable space colony, then we can get rid of capitalism ^.^
But on Earth, Capitalism is the only global system that works across governments, and so to stop using that system would cause Humanity to move backward technologically, and also it would create a very high amount of uneven wealth distribution. At least in the present, even a Chinese has a value, and that value is created not because there is a demand in China, but becasue there is a demand in the global system.