Monday, Jun 28, 2010
The impossibility of perpetual growth
Chris Martensen: Destined to Fail – Magical Thinking at the G20
...there is nothing yet to indicate that any the world leaders are aware that the very concept of perpetual growth is an unworkable fallacy. It’s obvious, hopefully to even the most casual of thinkers, that someday, sooner or later, whatever growth one is engaged in will have to stop. Nothing grows forever; everything has a limit.
Posted by greenmind @ 11:00 PM (750 views) Add Comment
7 Comments
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1. miken said...
Very nicely written article which highlights the serious structural problems in the US. I love the paragraph which states:
"One path to getting the deficit to 3% from its current 10% of GDP is to cut spending. However, this path carries the seeds of its own failure. Government spending is a big part of GDP, so cutting spending shrinks the GDP. The more spending is cut, the more GDP shrinks, which makes the deficit ratio less favourable. Adding insult to injury, government revenues expand and shrink in proportion to GDP, so cutting spending actually leads to reduced revenues, which leads to higher deficits, which lead to more cutting, which results in an endless spiral into the dumpster."
The US has gone past the point of no return in my opinion. It will go bankrupt.
2. montesquieu said...
Can't say I agree with the fawning commentary ... faux logic, extremely simplistic, an example: 'zero population growth = no need for new jobs', sounds logical but in fact is complete nonsense with the writer failing to grasp any sense of the complexities of the labour market, cycles of industry maturity, the effects of technology on job creation/destruction, ditto the impacts of globalisation etc etc etc.
Just another blogosphere would-be iconoclast (and a bit of a To*sser to boot).
3. greenmind said...
I think he is right to challenge the growth dogma. (Nearly) all politicians and the main stream media are brainwashed and never question its necessity and the rationale behind it. Chris Martenson's style doesnt bother me.
4. mark wadsworth said...
Whether or not there is a limit to growth is a moot point, but even if there is, it is centuries into the future. It's not just raw economics, there are other things that are hugely beneficial like democracy, honest government, freedom of speech and expression etc which are woefully lacking in most places.
5. Crunchy said...
Everyone knows it is impossible for continual growth, with no exceptions. So why are they doing it and where is it leading us?
Mark Wadsworth touches on the issue. Toronto?....Enough said.
6. orcusmaximus said...
Good article. I'm sure montesquieu is right saying it's a bit simplistic, but I like the thought that curbing population growth is more desirable than GDP growth, something which will come to a crashing halt due to peak oil. I put this happening within the next 30 - 50 years. Remember what Obama said about the BP disaster? "Disasters like this will happen more and more frequently as oil depositis get harder and harder to reach" (not an exact quote, but as good as I can recall)
7. Crunchy said...
6. orcusmaximus
Barry Soetoro has in the past said alot of things that have been false to date. Still, this is no excuse for him to deny international help to clean the mess up.
Someone should tell him about hurricains, as he seems the only person to not be aware of the backlash of this impending event. Go figure!