this post was submitted on 07 Nov 2023
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This is a popular take that is just completely wrong. Capitalism as a system does not require growth. Capitalism is a system in which the factors of production are owned by private parties and can be freely traded. The capitalists believe is that markets will allocate those factors of production to the owners that can best exploit them. This can result in growth, but it isn’t necessary for the system to function.
There are literally a thousand issues with the system ranging from inequality to environmental concerns to market concentration (all of which capitalists tend to ignore). I really do not understand why people pick this one to quibble over.