The problem with capitalism is that it relies on consumption.
Consumption is bad.
I think you'll find that all economic models rely on consumption.
All economic models also involve humans.
I guess I meant that it thrives on consumption, or that it particularly encourages consumption..
I don't really know much about what I'm talking about..
I was just thinking about all the crap that we produce, and realised the reason we produce it (and then consume it) is not so much because we actually need it, or want it, but simply because that's what we need to do to keep someone else in a job.
Basically I reckon we have more people than we *need*, but I don't reckon we have more people that we can *support*.
...that's why I followed up with a comment about a job being a 'status symbol'.
Well I'm four weeks into a macroeconomics class, so I'm practically an expert. (ha ha)
I don't think I agree that the reason that we produce so much crap is because we are trying to keep someone else in a job. I think we produce it simply because there is a population of consumers ready to suck^H^H^H^H buy it. I.e. "supply creates its own demand."
The interesting thing about classical economic theory, though, is that it assumes a competitive market structure and rational consumers, both of which are in extremely short supply these days.
OK.. so regulate advertising..
It increases competition (i.e. compete on 'value' rather than 'perception', little guy on equal footing with big guy, etc.).
Also, consumers would be more rational if they weren't trained to be irrational (via advertising..)