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Originally posted by teapot
Growth in itself is not the problem. It is the insane drive for exponential growth that is bringing western and developed economies to their knees.
This why I believe slower growth, working in symbiosis with the rest of the natural world, would result in self sustaining economies.
Originally posted by jjkenobi
Well without growth we'd still be living in mud huts wearing animal skins and hunting with a sharp rock attached to a stick. Additionally as previously mentioned since the population is growing exponentially everything else needs to as well.
but constant growth for every nation on the planet is surely impossible given our current reliance on fossil fuels to power those economies?
considering most people die after about 70 years anyway and replaced with their offspring, if they have any, perpetual growth of a system is possible from a certain point of view; as the system is actually dying and being regenerated.
if we look back through history and look at civilizations and empires etc that stopped seeking to grow and develop and sought purely to maintain the status quo within their relative societies then they soon started collapsing inwards upon themselves.
Originally posted by CB328
if we look back through history and look at civilizations and empires etc that stopped seeking to grow and develop and sought purely to maintain the status quo within their relative societies then they soon started collapsing inwards upon themselves.
You have it backwards, societies that develop a sustainable culture last thousands of years, while huge empires collapse after a few hundred years.
workers have a profound psychological resistance to accepting a wage reduction. This theory certainly has the ring of truth. Think how you would react if your boss announced he was cutting your hourly wage rate. You might quit, or you might devote less care to your job. If the boss suspects you will react this way, he may be reluctant to cut your wage. Nowadays, genuine wage reductions are rare enough to be newsworthy.
the psychological theory has one major drawback. It fails to explain why the psychological resistance to wage cuts apparently started only after World War II.
Our brief review of the historical record in Chapter 22 showed that the history of the United States includes several examples of deflation before World War II but none since.
Wages are the major element of cost in the economy, accounting for more than 70 percent of all inputs. Since higher wage rates mean higher costs, they spell lower profits at any given prices.