Problems inherent to capitalism?
If thinkers like Schumpeter are correct that companies that stop innovating will quickly become uncompetitive and will soon find themselves out of business, if capitalist economies in other words do require constant growth and expansion (due to the nature of competitive markets), then are planned obsolescence, high rates of waste, and competitive-consumption and high levels of personal debt (Schor reading) inevitable consequences of capitalism? Why or why not?
If they are inherent to capitalism, then how can these problems be resolved? Do you believe that these are problems at all? How might market-based approaches help to prevent these controversial consequences? On the other hand, if they are not inevitable upshots of competition and the drive for profit, then what might explain these consequences? Can the virtues of capitalism be harnessed to help prevent these controversial consequences?