Could it be that Capitalism is this monstrous machine that is devouring the Planet?

This machine is fed by population growth, if the growth is stopped and reduced, would the machine survive, adapt?
Will the planet (We) survive?

Answer:
You ask several questions. I take them in turn:
1) No. Consumerism is devouring the planet. Capitalism, as a system, is an efficient allocator of resources. However, when consumers do not know what they want, or what is good for them or what is not necessary, they exacerbate demand. Capitalism allows them to do this, but it is not the only system that would do so. However, capitalism, via the market mechanism, allows consumers to obtain their excesses with a minimum of waste, so if consumers are to consume excessively, it makes sense to allocate via capitalism than another system which would cost more to bring the same quantity of products.

2) Capitalism is not fed by population growth - note that markets did not fail in the wake of the Black Death in France, but rather accurately reflected a decrease in the price of land and property (due to a decreased demand for them) and an increase in wages (due to a decreased supply of workers). It is not that the machine would adapt - it would simply function as it is intended to.

Would there be reductions in scale and form of firms (entities such as corporations)? Yes. But they would remain capitalistic in nature.

3) The planet will survive capitalism. There is no value to destroying earth. Humans will survive capitalism, but they may destroy themselves over the scarcity of resources. Consider, however, that strife over resources is generally due to hoarding of one party or another, not to the existence of an efficient market system. Britain squared off with Iran over the Anglo-Iranian Oil Company partly because the British granted themselves monopoly power to exploit the oil fields and reinforced this power with military presence. Had there been active bargaining between oil distributors, this strife and turmoil could have been avoided.
It is not over population that is the problem. It is programmed gluttony. See the amazing documentary, "Advertising and the End of the World" to learn more about what is truly happening. It is available through Netflix.
I would say that it is overpopulation that is devouring the planet. If there were only 100 million people on earth we wouldn't be having this conversation, no matter the market system.

Capitalism is just the most efficient way we've found to satisfy the desire of 6 billion people for housing, food and other things. I am aware that a good chunk of the 6 billion don't see these needs fulfilled despite capitalism.

Capitalism is fed by greed, not by population growth. Capitalism was just as good at satisfying worldly desires when half the world was suffering communist rule. In fact, communism is a great way to destroy the planet faster - I visited eastern Germany shortly after the wall came down. The pollution levels were incredible. Even during the day you could see only about 500ft due to smog in Dresden.

That said, capitalism isn't very good at preserving natural resources, in fact it is quite efficient at using them up. Whether to allow that or not and to which extent is a question of policy.

Will the planet survive: I expect so until the Sun blows up.
Will we survive: Probably in some form. Humans and nature are pretty resilient and resourceful.
if its a monstrous machine then maybe everyone should stop eating and stop buying, stop going to work. maybe the whole planet can end this monstrous machine from ever running again, makes sense. as a result 7 billion people should die in about 7 days. you can take the first step.
It will be fine except you'll be paying $3.50 a gallon for gas.
I think it is people who are devouring capitalism.

It seems every country fighting for survival has its most ambitious members coming to America, the most successful of all capitalist nations, to survive and for a better quality of life.

We even have a severe problem with people sneaking in here illegally, risking their lives, in order to have some of the benefits of our economy. Hopefully that door will be slammed shut soon and we will get back to honoring honest, decent requests for citizenship.

If there is no growth, no contribution, and no income, life seems to deteriorate.

Capitalism is not the enemy, many people who work the system are.
Capitalism combined with religion is the poison that will eventually lead to our demise. Greed and fear are our worst enemies. Capitol ism leads to greed, and religion leads to fear. I did not always see this way, but I now truly believe that too many people are living for to marrow when today is all there really is. Another common misnomer associated with a capitalistic society is that money buys happiness and security.

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