as a passionate participant of this topic, it is inevitable that i think about it most of the time. it is after all, my future(and everyone else's for tht matter).
What we are witnessing today is really the collapse of capitalism as an economic system. It cannot sustain itself because it is full of weaknesses, for instance:
it is a system driven by greed and self interest.
it does not take welfare into consideration.
its engine is creating wants we don't need.
sure the argument for this system is that it creates a healthy competitive environment for producers, and encourages efficiency, but the drawback has a bigger long term effect on the economy.
therefore, once we, the consumers, have no means to get hold of what the capitalists are selling, then the system cannot function anymore. in fact, i would also say once greed is gone( unthinkable), then the system fails itself.
an example is the receding market in Japan. They increase productivity in goods, to stabilise their economy in a legit and wise way, however, no one's buying anymore, and they can't figure out how to get buyers in this condition.
although some of us are very fortunate. do not feel like a damsel in distress and still spend like we just won the lottery*coughs*, but many are losing jobs, many are suicidal over much prolonged poverty.
the era of consumerism is slowly vanishing, but for how long, we cannot be sure. one thing for sure, there is a solution for this. which is to overthrow this system and replace it with something else. what is that something else? right now, i am very certain i know the answer, but my insufficient knowledge about that particular system leaves me no choice but to label this problem with an unknown solution for now.
i do not know how to make this important post more interesting or understandable. but i'll definitely try better and come out with weird metaphores or hiperbole everything for the next global update.
a short and cute economic analysis by:
the greatest asian economist in the making, amartya sen can eat my dust!( give my cockyness some credit)
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4 comments:
This IS an interesting post, fyi, for a non-economist like me. You, among other people have briefly opened my blindsight so far to a few shocking realities of our economy.
Just a little thought to brighten up your day, go to Facebook and search for the group "you cannot feed a child with just a click". Has a few funny thoughts on capitalism.
hey aishah, thanks!
and that group you told me about is awesome.
but bare in mind, my writings are my own findings, you might read a dfferent opinon or story somewhere else.
but i try my best to convey economics to non economists lke you!
that last line is just too cool! haha. pssstt.. can i be your sidekick when you one day become the greatest asian economist?
sure danial! but you must prove yourself a worthy raven!
(batman and robin, batwoman and raven?)
but you can still be robin if you want.heh
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