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What does that mean? If it means, literally, U.S. Gross Domestic Product has reached its peak, then my point that the GDP has grown every year but one since 195
by hackuser 9y ago
What does that mean? If it means, literally, U.S. Gross Domestic Product has reached its peak, then my point that the GDP has grown every year but one since 1950 answers the question. To be clear: Every year since 1950, except one, the U.S. GDP has been larger than the year before.
- 101km 9y agoIt is similar to "Peak Oil". Things are finite, nothing grows forever.
- Pokepokalypse 9y agoWell, in the case of oil, the limiter is a physical thing - accessible petroleum deposits. (which; things like fracking and shale oil were able to somewhat mitigate or replace). In the case of economic growth, it's productivity (which is a function of automation), and monetary supply (which is a function of fiscal policy guys playing chicken with the banks). It's not clear that there is a hard physical limit on either of these quantities. In fact: the innovation represented by automation, might also be seen as similar to the factors against peak oil: as fracking and shale oil are also technical innovations.