Posted at RIEAS web site (www.rieas.gr) on 31 January 2021.
"Originally posted at theperiscope.substack.com and shared here by permission."
Note: The article reflects the opinion of the authors and not necessarily the views of the Research Institute for European and American Studies (RIEAS)
Perpetual Growth, or PG, is a wonderful theory, a sweet dream come true, the chosen baby of modern capitalism. It posits that it is capitalism that controls the inner dynamic of pushing production of everything beyond limits imposed by Nature and human endurance. “Capital” is central to PG theory. Karl Marx defined capital as the string of “Commodity-Money-Commodity,” whereas commodity is any material thing that can be produced for use by the consumer. Money is the means of allowing the exchange of “things” for profit (profit being the great bogeyman in the eyes of socialists and communists.).Read more