Originally posted by Velociryx
Further, because of the scarcity of resources on this planet and the ballooning population,
Further, because of the scarcity of resources on this planet and the ballooning population,
The population is not only not ballooning, the rate of growth is lowing down. In fact, it is not believed that Earth will reach its peak population (about 9 billion) by 2050, at which point the world's population will begin to drop.
There will NEVER be, barring some magical replicator machine a la Star Trek, a time when the level of production reaches such a vast point that it becomes silly to charge for goods.=-
A lot of scarcity in capitalism is artificial. We could produce far more of most things we need and want. We don't do it because it would be inefficient as far as capitalism is concerned, because there wouldn't be enough of a return on investment. If the purpose of production is to meet human needs rather than a profit margin, then this is not a problem.
Granted, at this moment, we couldn't reach the level of production required, but we could push down the prices of a lot of things. The world has massive quantited of unused labor, even in the developed world. Once the 3rd world is industrialized, we could start lowering our working hours rather than putting people out of work.
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