session 16 decline of capitalism

immanuel wallesterin in his piece has basically tried to give an overview of how imperialism and capitalism came about. he also talked about the causes , consequences and decline of capitalism is in itself. As it goes on describing how capitalism originated, simultaneously the same reason leads to its decline. As per the author, capitalism originated from the colonization where the colonizers needed a large consumer base to sell their good and search for new markets. As it grew, trade had to be free and so market forces had to be operated with freedom. this freedom required the end of colonial rule becuase it is based on freedom so we can say that the capitalism for its cause became ultimate end. similarly he talks about weakness of capitalism that growth in capital structure requires surplus of good by not spending too much and on the contrary for long run, there would be no sale if there is no purchaser. the purchaser can be formed when there is spending in short run. since the idea is of growth by saving in short run, how can we expect for spending in future. in this case saving of surplus is useless in short run. So we found that their is a contradiction in the capitalist structure in itself.
immanuel also talks about agricultural capitalism and industrial capitalism and how this foster the accumulation of money in few hands and if this is the case then eonomic activity would be hindered because for sale there has to be purchase and for every purchase there has to be money in the base. with few people getting richer and richer, the miney in the base is reduced resulting in the decline of capitalism

                                                                                                                            ~UZAIR MUJEEB