Impact of market saturation and technology on coop capitalism

While I am convinced that worker coops are an excellent way to organize economic organizations, I believe that they are a model that could have worked well in the late 20th century, but I am not sure about 21st century. Why do I think so? Because in the end they would have to compete in a money based economy. Money based economy is dependent on consumer demand. Today, in virtually every sector, market is grossly over saturated. How many colas, mobile phones, fancy watches ... etc do we need? I am not sure that the coops would be able to solve this problem even if the middle class were to be resurrected. And if it did, what will happen to our environment? Second, the technology advancement we are bestowed upon is so profound that very soon we can have AI machines do the majority of work for the human species. I would be interested if you could cast your thoughts as to how worker coops can exist in this environment. I believe that world today is too complex for any politician to understand, or should I say human that is raised to believe in and value greed. I myself think that we need to move from a money based economy to a resource based economy. I invite you to listen to John Lenons "Imagine" and watch a few episodes of Star Trek (2nd Generation) in which money literally does not exist..... this is what can be described as true communism.... most of my friends laugh when I say this because they associate communism with Soviet Russia, when it fact it has nothing to do with it. I believe that Marx said that when technology becomes so advanced that everything is in abundance, there will cease the need for money to exist. Remember in Star Trek, when you need a Martini, you simply ask the computer to make one for you. If you need fantasy, go to the Holodeck. Technology is advancing at beck breaking speeds... either we will end up in a Wall-e or Star Trek movie.... Sorry for the long email. Would love you to comment on the impact of technology on capitalism.

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  • Global Vagabond
    published this page in Ask Prof. Wolff 2017-04-30 13:50:17 -0400