The Importance of Capitalism

Mark O'Mara: Marx says capitalism is absolutely necessary. The capitalist process and portion of history is indispensable, he writes. He argues that the number of publicly traded companies over time doesn't scale linearly. This means profits increase faster than they do with population growth; this will push down labor costs for many years to come, which can lead to a crisis in the system. "I don't know what that's sort of core to the thing,"O'Mara adds.