Does capitalism actually ""require"" infinite economic growth?
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"Central banking, where you print credit out of thin air to finance deficits and subsidize the financial sector requires infinite growth. That is because as soon as you start printing up credit, then someday you are going to need to print up more to get the original back with interest. However, capitalism, meaning free markets, meaning the voluntary exchange of goods and services does not require any growth at all, in fact it works well even in steep declines. Unfortunately, all too many people think capitalism means "a system with a central bank that prints capital out of thin air to finance industry and development and bankers" Which is what we have in the USA. Well, that's not true capitalism. The central banking system in the USA was imposed long after we had a working capitalist system. Note, people often improve and innovate with time when free to do it, so capitalism usually leads to growth. "
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REKLAM
Our current debt system requires constant growth to maintain the bubble.
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For capitalism to work someone (or group) must be exploited for it to 'work'. An alternative must be found, unless we can get it together soon and discover a way of working together and preserving the environment soon we're all fucked. Capitalism as it exists today just cannot last. Here is a good example why http://www.guardian.co.uk/business/2010/jun/29/drunk-oil-trader-banned-fsa
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Are you trying to imagine that the banking system is separate from capitalism? It sounds like you've got a case of libertardianism. There's only one known cure: thought.
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What exactly do you mean by 'infinite' economic growth? Like, the economic production having a positive growth rate from now and until forever? If so, then capitalism doesn't require it per se, but I'd rather have it happen, and capitalism seems to be better at it than those communist systems that have been tested so far. Indefinite economic growth would be sustainable for a while due to technological advancements (being able to do more with the same resources), but yes, universe is finite, so after constant growth rate, eventually the universe will start running out of resources. Communism suffers from the same problem too though.
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Capitalism does not require infinite growth. However our current banking and money creation system DOES require infinite growth. Go to chrismartenson.com and watch the 'Crash course', its explained there why with our limited resources this type of system over time will lead to very 'difficult' times.
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Overall I'd say no? (and I'm far from a proponent of capitalism). It's very complicated because economic growth isn't necessarily tied to actual growth. For example, if we destroy a city, and rebuild it - we will see economic growth but is this scenario really growth? In any case, you seem to be hostile to 'leftists', but I think there are many more valid criticisms of capitalism. I'd recommend you read Albert Einstein's essay on the matter.
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It would require infinite growth if every individual benefits all the time. This is what leftists presume to be a good system, which is unrealistic and undesirable. In any system, someone will lose. With pure capitalism, some people end up very poor due to bad decisions or terrible luck, and some people end up very rich with opposite factors. I don't advocate pure capitalism, since some intervention is necessary to prevent unfair practices. Ideally, you should gain or lose based on your success or failure in decisions, and not on exploitation. I like capitalism because it gives motive. For the amount of effort and talent someone has, you earn more in capitalism than any other system, and that gives you more motivation to make more of your efforts and talents.
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Capitalism does require infinite growth because of one simple concept ... interest on loans. Because of interest, there will never be enough money to repay all loan debts in society. The only way to remedy this void is to increase the money supply. When the money supply is increased, more capital is available for loans, so more loans (and thus interest) is added to the equation. The only ends to this vicious cycle are to devalue currency (where smaller amounts of money have more value) or economic collapse. When you increase the money supply without regard to supply/demand for goods and services, that is a certain to be disaster.
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