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08/19/2001 Archived Entry: "19-August-2001 -- Is Capitalism Too Productive?"

Is Capitalism Too Productive? (Foreign Affairs, 1997) -- "Let me give that economic doctrine a name, and call it the doctrine of global glut. It may be summarized as the view that capitalism is too productive for its own good - that thanks to rapid technological progress and the spread of industrialization to newly emerging economies the ability to do work has expanded faster than the amount of work to be done."

Replies: 1 comment

Nice article, economics is a lot simpler than everyone thinks. Why does everyone think that the economy needs to be controled? Isn't the definition of capitalism "capital in the hands of the people." Anything that takes capital out of people's hands is not capitalism, it's something else.

Posted by Greg Day @ 08/21/2001 11:53 AM EST

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