this post was submitted on 21 Sep 2023
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Again, this problem only exists because capitalism requires rampant spending with no breaks. It's a failed system that should be corrected.
History has seen shifts in consumer buying patterens, and entire industries go under. You know what else happens? Other industries come up, and jobs change.
If industry isn't adaptable, then the result will be failure. Can't blame someone else for not keeping their unsustainable business model afloat.
No. There is nothing about private ownership of capital that requires rampant spending. Hell, us in Canada are especially good at allowing capital to sit idle.
It is our debt-based economy that requires rampant spending.