> obviously i agree that debasing a currency and increased financialization beyond a certain threshold are likely to produce the effect you have described. financialization and debasement of the currency are baked into capitalism. they are natural, implicit, intrinsic consequences of running an economy for financial profit. the money for the profits doesn't exist. so it has to be printed. but why print the money for someone else's profits for free? so the printed money is lent out at interest instead of buying distributed for free or with no interest attached. > i just dont agree its necessarily true in all possible systems of privat ownership of production machines. you don't understand my thesis. my thesis is simple: profits are fake. the money for them does not exist. it has to be printed continuously. but the more you print, the faster you need to print more or the rate at which you print becomes less and less significant compared to what has already been printed previously. but accelerating printing of money naturally causes inflation. inflation affects production costs as well. so producers try and move abroad to escape the inflation while maximising profits by selling back on the domestic market. so you have deindustrialisation and unemployment. and you start shipping in migrants to reduce production costs for stuff which you can't move the production of offshore/abroad. such as cashiers. such as delivery boys. what is it you don't understand? > in fact the same phenomenon can be and was observed in communistic systems, which phenomenon, exactly, specifically? > which did debase their currency. if they had even one part of their economy operate for financial profit, they had the same exact problem as and weren't really different from capitalism. likewise if they tried trading with capitalist nations. they inevitably needed to adopt a similar model or otherwise collapse due to forever exporting real wealth for foreign fiat currency.
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