But this isn't the first "capital based industrial revolution," that occurred during the High Middle Ages.  The rise and fall of such is instructive.  Capitalism works great during periods of population increase where investing money for future reward is met with future reward due to increased demand.  It is unclear, to me at least, what will happen under capitalism - as we know it - during an extended period of population decline.

 

Ever since I learnt about confirmation bias I've started seeing it everywhere