The prevailing economic system demands ever-increasing levels of extraction, production and consumption and needs a certain level of annual GDP growth for large firms to make sufficient profit.
But at some point, markets become saturated, demand rates fall and overproduction and over-accumulation of capital becomes a problem.
In response, we have seen credit markets expand and personal debt increase to maintain consumer demand as workers’ wages have been squeezed, financial and real estate speculation rise (new investment markets), stock buybacks and massive bailouts and subsidies (public money to maintain the viability of private capital) and an expansion of militarism (a major driving force for many sectors of the economy).
We have also witnessed systems of production abroad being displaced for global corporations to then capture and expand markets in foreign countries....<<<Read The Full Article Here>>>..
