[ghevshoo]

> Capitalism’s failures arise from two of its defining elements. The first is perpetual growth.

It's not just perpetual, but exponential. However it has nothing to do with capitalism. How do free markets and private ownership over the means of production demand perpetual growth?

It's our monetary system which demands this growth. Bitcoiners have been harping about this for years, but that message tends to get lost in zealotry.

As long as you have a debt-based monetary system and a central bank that targets 2% inflation per year, you can happily have a communist economy that requires the same exponential growth. And similarly that would not be the fault of communism.

[_nalply]

The perpetual growth per se is not a defining element of capitalism but a consequence of something else:

The ongoing struggle to compete for profit.