This Isn’t Capitalism -- It’s Growthism, and It’s Bad for Us
This Isn’t Capitalism – It’s Growthism, and It’s Bad for Us – Umair Haque – Harvard Business Review.
While I don’t agree with all the points, I can definitely agree that our incarnation of capitalism optimizes for growth, leaving everything else behind. That can be a problem for the environment, the poor, and any other economic element that doesn’t have a voice in a growth-centric economy. Is capitalism evil? That depends on your definition. Human nature notwithstanding, I would say that its incentive structure promotes some problems.
Is it nice that in 2014 we all have lots of affordable gadgets? In some ways. Does it make us better people? The author, Umair Haque, would seem to argue a flat “no”. From my perspective, the truth has more shades of gray to it.
My big question at the end of the article: if capitalism (or “growthism”) is broken, can it be fixed? If it’s not broken, but just needs some adjustments, what should come next?