I’d like to share some of my thoughts which I think may be useful in this case.
Firstly on capitalism: Capitalism is based on supply and demand. The more people who want a specific item the more valuable that item is at X quantity. Should the quantity increase (supply) the value lowers. Should demand (population desiring said Product) increase at a fixed X quantity then again the value increases (cost).
This is actually a negative feedback loop that regulates the price of products. Let’s consider the product as “essential” - something necessary to basic human needs for example education, as opposed to “luxury”.
When an essential service or product becomes “out of reach” in price for the general population -because it is essential - this invokes either a). an increase in supply (new companies or institutions and competition) b). Innovation - the development of new ways to decrease the cost of production or increase the utility/ essentialness of the product. c). Substitution - the offering of a different product that can provide similar functions or d). Decrease in price of the product by the established company - if no one can buy your product your earning potential drops and this can threaten the survival of a company.
On failing any of these mechanisms to resolve the price increase (which is unlikely) then d). Policy and regulation reform is a final option: that is to say government/ banking intervention in the form of new laws, cuts to tax, vat, tariffs, grants, interest rates etc which essentially bolsters the buying potential of the consumer making the product again affordable.
The diverse interplay between these is very effective at generating stability for the general consumer population.
Unfortunately capitalism relies on the existence of a spectrum. It requires a minority to be poor, a majority to be middleclass and another minority to be wealthy. Let’s imagine everyone is made middle class (No poor and no rich) then demand greatly increases (because everyone has money to afford something) which increases the value of the product: this value increase leads to capitalising and the reemergence of a wealthy class as well as simultaneously leaving some unable to afford it (poor).
The proper function of an economy really relies on the middle class however as it is the majority. If anything disturbs the buying power of the middle class then the whole economy suffers (for both the wealthy and the poor) e.g recessions, large scale unemployment/economic collapse etc.
An important lesson can be learned from this with regard to population size and cost of living. This is one of “dependence”. The more an individual outsources their needs onto others by using money/ the market, the more dependent they are on the systems health for satisfying their basic human needs.
If we consider resources as finite and population as increasing we can predict that there will be a natural revival of “self- sufficiency” practises. This means relying less on large scale industry and more on home industry or micro-industry.
We are actually seeing this. There is a renaissance of basic craft/ home industry going on in first world countries (third world already heavily rely on this). The utility of the internet in circumventing the need to pay for education to attain these skills makes it a lucrative money- saving endeavour.
So I would imagine that is the Global capitalist system escalates then there will be a cultural shift back to local Independent products; think knitting your own clothing, Ceramics, home cultivation of produce, Crafting furniture, buying locally farmed produce, reusing, upcycling, etc in small groups.
This has a net impact on the capitalist market as companies see people moving away from High end buying and moving towards self-producing. This is a final regulatory system that ensures the price of using the global market is reduced to make it lucrative.
In summary; cultural change has a colossal impact on shaping the market. And these mechanisms are reactionary - they don’t ever stay the same. During the war in the 1900s there was a huge shift from buying to home d.i.y as people struggled to make ends meet.
It’s important to remember that economics is not based on money it is based on mass psychology. Individual decisions and behaviour. Which is ultimately cultural not fiscal.