Quote:
Originally Posted by roflwaffle
In the vast majority of definitions of capitalism there's nothing that strictly ties it to growth. Just because an economy shrinks (recession) doesn't make it somehow not capitalistic either.
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How important do you think credit is to capitalism? I am talking here about capitalism as it is practiced, rather than as it is defined...
How important is growth to the practice of credit remaining viable?
I think it is pretty clear that
no growth = no credit
and...
no credit = no capitalism.
Quote:
Originally Posted by roflwaffle
world3 is also a pretty bad model given some of the assumptions. Like they say in programming, garbage in, garbage out.
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Garbage in garbage out? I see that phrase being used a lot by the weak minded, which I'm sure is not the case with you. Perhaps you could be more specific...
I'd be interested to see how the 'garbage' assumptions you have identified are affecting the accuracy of the predictions.
The computer model was done 40 years ago and now we do have an opportunity to asses it's accuracy.
I'd be interested in your ideas.
-AC