: Well, the model of crisis I prpound on this board clearly demonstrates that this is so- capitalism, a system preicated fundamentally upon scarcity, produces more and more goods, eventually effectively destroying scarcity, and thereby the conditions of its own existence. through creating plenty, it undoes its own logic. It won't coallapse, but it will suffer repeated crises as a result.
You accept that individual liberty when combined with private property does create huge opportunities for people to create wealth and abundance then, thats good.
I think its 'collapses' are not spectacular. I do think that the rich make easy-life armchair socialists (the 'liberal' sort one finds in America) whose very existence is made possible by that which they decry.
All systems must be based upon scarce resources. Capitalism frees people to interact with those resources in a non-coercive manner. It can just about be perceived in the west, behind a shroud of statism.
Scarcity does not disapear though. Scarcity of food may disapear in welathier nations, but then you get scarcity of other demanded resources (dare I say holidays!) which may not be vital to biologocal survival. It doesn no undo its own logic.
The cycles of oversupply are mediated by changes in technology, and restricted to sectors of an economy, rather than massive all over cycles.