It’s a crisis for who will support you in your old age. Capitalism or no capitalism, if you want to keep eating after you stop working, either you store enough literal food in your barn, or somebody else works so you eat.
Traditionally, that’s family: your children. Capital/investments/savings, or socialised care, spreads that around the State a bit more (or round the local or global community). But when there are few children and many adults, later there are few working people and many retirees wanting to enjoy life - and you’re one of the retirees.
It’s a “problem for capitalism” because so many people have invested in capitalism for their retirement, and that could be upended. And because actually-small investments were made, on the basis that constant economic growth means lots will be returned when the time comes.
But it’s a “problem for humanity” - all the people who don’t have children to care for them and rely on money and financial investments - which both just represent a stake in someone else’s work - for the future.
I’ve written myself into a corner a bit here. Few working adults to many retirees is always going to be difficult, no matter your economic/political system. But logically from my, simplified, argument, the last two paragraphs beckon a third. To recap,
Retirement funds: a stake in “Capitalism”, to provide for your retirement based on broad economic growth
Money: a stake in the total economy, to provide from people’s work. Then:
A stake in the community, based on being a member of the community. E.g. a citizen - then this is socialism. If there are enough working adults - or bread in the barn - to provide for all the elderly, then all the elderly (you included) are provided for, regardless of whether they have children or saved money or made investments.
But still, if there isn’t enough for everyone, everyone suffers. And it’s rare to find a community that really wants to care for its elders well, putting in the effort for them rather than people spending on themselves, without outsourcing to ‘capitalism’ and economic growth.
We need people working services, among which elderly care is going to be big, and producing all the stuff the existing people need.
You keep working with money. Money is a great idea for a society where everyone is supposed to be productive. But not so great beyond that. When you inevitably move to a society where loads of people are not productive because of age and automation, money becomes an obstacle rather than an asset.
Given the limited amount of people needed to provide services and produce with the current and near future level of automation the only problem is money. Because money means that only people who earn it have rights to goods and services.
It’s a crisis for who will support you in your old age. Capitalism or no capitalism, if you want to keep eating after you stop working, either you store enough literal food in your barn, or somebody else works so you eat.
Traditionally, that’s family: your children. Capital/investments/savings, or socialised care, spreads that around the State a bit more (or round the local or global community). But when there are few children and many adults, later there are few working people and many retirees wanting to enjoy life - and you’re one of the retirees.
It’s a “problem for capitalism” because so many people have invested in capitalism for their retirement, and that could be upended. And because actually-small investments were made, on the basis that constant economic growth means lots will be returned when the time comes.
But it’s a “problem for humanity” - all the people who don’t have children to care for them and rely on money and financial investments - which both just represent a stake in someone else’s work - for the future.
I’ve written myself into a corner a bit here. Few working adults to many retirees is always going to be difficult, no matter your economic/political system. But logically from my, simplified, argument, the last two paragraphs beckon a third. To recap,
Retirement funds: a stake in “Capitalism”, to provide for your retirement based on broad economic growth
Money: a stake in the total economy, to provide from people’s work. Then:
A stake in the community, based on being a member of the community. E.g. a citizen - then this is socialism. If there are enough working adults - or bread in the barn - to provide for all the elderly, then all the elderly (you included) are provided for, regardless of whether they have children or saved money or made investments.
But still, if there isn’t enough for everyone, everyone suffers. And it’s rare to find a community that really wants to care for its elders well, putting in the effort for them rather than people spending on themselves, without outsourcing to ‘capitalism’ and economic growth.
Your problem is twofold.
We need people working services, among which elderly care is going to be big, and producing all the stuff the existing people need.
You keep working with money. Money is a great idea for a society where everyone is supposed to be productive. But not so great beyond that. When you inevitably move to a society where loads of people are not productive because of age and automation, money becomes an obstacle rather than an asset.
Given the limited amount of people needed to provide services and produce with the current and near future level of automation the only problem is money. Because money means that only people who earn it have rights to goods and services.