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The economy is a sort of perpetual motion machine / ponzi scheme. It's based on some common hallucination that the things we buy matter, and it's all backed up
by blazespin 8y ago
The economy is a sort of perpetual motion machine / ponzi scheme. It's based on some common hallucination that the things we buy matter, and it's all backed up by money we loan each other.
The moment we stop investing, borrowing and loaning, it will all come tumbling down. This is sort of what caused the panic of 2008 and why the governments had to step in with QE.
- wallace_f 8y agoWithout population growth, big parts of many national economies become unsustainable. They're like MLM, Ponzi Schemes, or other pyramid schemes in this way.
- notfromhere 8y agoThat's not true. Population growth and economic growth are related, but can happen without the other.
- wallace_f 8y agoAn introduction: https://www.brookings.edu/blog/up-front/2016/05/02/two-solutions-to-the-challenges-of-population-aging/ https://www.brookings.edu/blog/up-front/2016/05/02/two-solut... >Aging populations pose a challenge to the fiscal and macroeconomic stability of many societies Entitlements, leveraged risk-taking, investment. All these things depend on the next generation.
- mac01021 8y agoI'm not sure that's ever been demonstrated empirically.
- StreamBright 8y agohttps://www.youtube.com/watch?v=FzN0bVvKmQI https://www.youtube.com/watch?v=FzN0bVvKmQI