"Economists (with a few notable exceptions) have long behaved as though growth were synonymous with economic health. If the gross national product of a country increases steadily by 4 percent per year, most economists express approval and say that the economy is healthy. If the economy could be made to grow still faster (they maintain), it would be still more healthy. If the growth rate should fall, economic illness would be diagnosed. However, it is obvious that on a finite Earth, neither population growth nor economic growth can continue indefinitely.
A “healthy” economic growth rate of 4 percent per year corresponds to an increase by a factor of 50 in a century, by a factor of 2500 in two centuries, and by a factor of 125,000 in three centuries. No one can maintain that this type of growth is sustainable except by refusing to look more than a short distance into the future."
Full Article Here: Limits To Growth And Fractional Reserve Banking By John Scales Avery:
'via Blog this'
0 comments:
Post a Comment