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Exponential growth is needed only for keynesian economists because it keeps their pyramid scheme called welfare state running. If you have a decent one-digit ec
by oleganza 11y ago
Exponential growth is needed only for keynesian economists because it keeps their pyramid scheme called welfare state running. If you have a decent one-digit economy growth on non-inflatable money (bitcoin), then everything Just Works. Money does not suddenly lose all its value because no one is printing it to extend never-ending credit that leads to inevitable collapse of inflated expectations and reality of finite supply of resources.
- harryh 11y agoThis isn't a story about money and/or inflation. It's a story about goods and services and our ability (or lack thereof) to make more and more of them.
- oleganza 11y agoYup. And my comment is about when it does and when it does not matter that you make more and more of them. If your society is in fiat credit bubble, then you are doomed into Mad Max Scenario when you slow down the exponential growth (bubble collapses). But if you do not have any bubble in the first place, then slow down is just a slow down. People make less people, consume less, wait for better days, "time slows down" so to speak if we are talking about technological progress. No Mad Max scenario at all.
- harryh 11y agoNo. That is wrong. People are much happier and get along much better with everyone else when they expect tomorrow to be better than yesterday.