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Reply #38: I agree, the problem is unsustainable global capitalism [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010)

daleo

(1000+ posts) Send PM | Profile | Ignore

Wed Feb-25-09 12:19 PM
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38. I agree, the problem is unsustainable global capitalism

I think it is a result of the current unsustainable model of global capitalism. Corporations wanted cheap labor and high prices for their goods. This could go on for a while, but only at the cost of transfer of assets and accumulation of debt in the consuming countries. This was masked for a while by excessive debt levels in the west, and the associated ephemeral wealth effect. Now that the debt bubble has busted, the scope of the problem is coming clear.

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