Capitalism can’t outlast automation
That’s what they thought of factorization as well, but it outlasted it just fine. Same thing will happen with more advanced forms of automation, but there will be growing pains certainly.
Capitalism is undeniably declining, though. Production is through the roof, but wages have stagnated with respect to that. Factorization in the sense of industrialization was never seen to go against Capitalism, rather, with the rise of factories came the rise in Capitalism.
Unless I’m misunderstanding your point, of course.
Additionally, the fact that one prediction was wrong does not necessitate that all predictions are wrong.
The amount of people living in extreme poverty was 94% in 1820. In 1981, it was 44.3%. In 2015, 9.6%. This effect is entirely due to Capitalism. Perhaps wages in the West have stagnated because people in other countries deserve those better wages more? Just a hunch, no data to back that one up, except these statistics.
This incredible success in saving people from horrible conditions might not continue, but the recent history has been pretty great.
Development did, not Capitalism. The countries that developed the most in the 1900s were the ones rejecting Capitalism in favor of some form of Socialism.
Do you think that people get richer when a group of people decide they have no rights of ownership and one person owns everything, or do you acknowledge that democracy and decentralization are good?
