Bauwens: “Will Capitalism Survive Abundance?”

This article¬†written by Michel Bauwens, a founder of the P2P Foundation, asks “will capitalism survive ‘value abundance’? Open-source software, shared innovation and crowd-sourced manufacturing threaten capitalism as we know it.”

What happens if more and more of our time goes into producing use value – a fraction of which creates monetary value – but there is not a substantial return of income to the use value producers?

…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…

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