I’m clearly no economist so maybe I’m missing something obvious, but I cannot wrap my head around why so many believe that the market is just some sort of fundamental, unchangeable property of the universe that is and always will be. Why do we assume that the dollar will always be valuable?

I could be incorrect, but it seems like there is no guarantee that there will be a rebound after a crash (see: 2008). It more so just seems like parts of capital crumble and become inaccessible to people who once had access, thus causing complete inaccessibility for all who come after.

So, boom and bust seems like the greatest misnomer of all time.

  • EnsignRedshirt [he/him]
    ·
    1 year ago

    It more so just seems like parts of capital crumble and become inaccessible to people who once had access, thus causing complete inaccessibility for all who come after.

    Marx wrote about more or less this. One way that capital gets to keep expanding is that sometimes a bunch of value gets destroyed, dispossessing the former owners and concentrating it further into fewer hands. At least that was my read, I’m not as studied as some of the other folks here so take with grain of salt.