Will capitalism survive ‘value abundance’?
The $100bn Facebook question: Will capitalism survive ‘value abundance’? by Michel Bauwens, Aljazeera: […] Open-source software, shared innovation and crowd-sourced manufacturing threaten capitalism as we know it. Not only is the world faced with a global resource crisis, it is also facing a crisis of intensive development, because value creators are increasingly income-less. The knowledge economy turns out to be a pipe dream, because what is abundant cannot sustain market dynamics.
Thus we have an exponential rise in the creation of use value, but only a linear increase in the creation of monetary value. If workers have less and less income, who can buy the commodities that are offered for sale by companies? This, in a nutshell, is the crisis of value that we are facing as humanity. It is a challenge just as big as climate change or increases in social inequality…”
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