everything bad (except for covid) that happened since 2016 can be explained by smartphones being the last major demand-generating innovation and saturating around 2016, and capitalism needs demand-generating innovation in order for rate of profit not to decline, and capitalism needs rate of profit not to decline in order to continue to function (as Marx wrote about at great length)
@bob Well that's not true.
Rate of profit can also increase with resource costs decreasing.
And why would rate of profit need to not decline for capitalism to function? That also makes no sense since the need for capital formation remains regardless of profit margin to support productive activity.
Heck, we see that people still go to work even during periods of inflation, easily disproving those proposals.
