Pluto and Capitalism: “Creative Destruction”

Last updated on: September 24, 2008 at 12:08 pm by Lynn Hayes

Pluto and Capitalism: “Creative Destruction” 2008-09-24T12:08:05-04:00 Lynn Hayes

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I first heard the term “creative destruction” this morning on NPR relative to the current debacle in the financial industry, and I thought: how perfect for the nature of Pluto re-entering Capricorn where it has already marked a destruction of the mode of capitalism that the US economy has devolved into.

From Wikipedia:

“The opening up of new markets and the organizational development from the craft shop and factory to such concerns as US Steel illustrate the process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one … [The process] must be seen in its role in the perennial gale of creative destruction; it cannot be understood on the hypothesis that there is a perennial lull.” (Quote from “The Process of Creative Destruction” by Joseph A. Schumpeter, 1942)

Pluto is the god of destruction; in our personal lives he removes any person or thing that is not serving the purpose for which it was intended in our soul’s journey. That destruction can be felt as ruthless, but it is always recognized in retrospect as being necessary. When a computer’s files are corrupted to the point that the computer doesn’t work, we reformat the hard drive and reinstall the software. I believe that the economic system in the US is that broken, and it needs to be allowed to self-destruct so that something more effective can be built in its place.

Obviously this is a painful process, but this is what we’ve been anticipating with Pluto’s entry into Capricorn, the sign of buildings, banking, governmental and religious structures. Capricorn is also the sign of personal responsibility: of living up to one’s own rules. The system that passed a major piece of bankruptcy legislation tightening the noose around the neck of individuals whose bad financial decisions or plain bad luck resulted in financial losses should be held to the same standards here.

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