Pokémon Go is not an indictment of late capitalism

unnamedStephan Livera rebuts the arguments that “Pokemon Go is everything wrong with late capitalism”:
Contra the arguments presented by Timothy B. Lee in Pokémon Go is everything that is wrong with late capitalism, Pokémon Go is not a good reason to believe that modern day capitalism has failed us. I’ll quote liberally from Timothy’s article:

If you were looking to have fun with some friends 50 years ago, you might have gone to a bowling alley. Maybe you would have hung out at a diner or gone to the movies.

These were all activities that involved spending a certain amount of money in the local economy. That created opportunities for adults in your town to start and run small businesses.

This is based on the notion that in order to benefit, people have to spend into their local economy. But the real reason we are able to progress forward is not merely due to consumer spending going up (this is putting the consumption cart before the production horse). It is because of savings and capital accumulation. This capital accumulation enables us to make things in more productive and efficient ways. We’re getting more for less! Continue reading