3 ms·
It is similar to "Peak Oil". Things are finite, nothing grows forever.
by 101km 9y ago
It 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.