> There's a cogent argument to be made that under capitalism, once market saturation is reached, any further excess wealth (and capitalism creates lots of that!) is redirected to zero-sum competition (which is, on a societal level, waste).

I think that's a strong take and agree somewhat. It's not at odds with the fact that capitalism has created more innovation, wealth and raised standards of living more than any other period in history. The problem is not capitalism, it's that capitalism is over.

In the long tail of diminishing returns all that's really left for people holding obscene sums of money to do amidst shocking inequality is to lie, cheat, steal and rat-fuck one another over the remaining opportunities to die on the biggest pile of ostentatious wealth.

Capitalism was a great system that ran out of fuel. I don't think we expected it to stall so soon, but it's hit some internal limit. We should be as worried about that as climate. These problems are bound up together. If we are going to preserve the liberty, opportunity, and democracy that have naturally ridden along with it we had better figure out a way to creatively re-invent the industrious ethic underpinning capitalism because, frankly, the Chinese model of consumer-communism is nothing to celebrate or hope for.