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I think Noah is talking past the degrowther point: the current highly leveraged, debt-driven system economic system requires growth or else it collapses (total
by dnautics 5y ago
I think Noah is talking past the degrowther point: the current highly leveraged, debt-driven system economic system requires growth or else it collapses (total nominal value must be exponential, or else you get depressions). I think degrowthers would be fine if there was "natural growth" due to realized gains in efficiency, but forcing a system to "grow or else" has lots of bad consequences, including: overemphasizing consumerism over conservation, stealing from the poor to give to the rich, malinvestment at a societal scale by forcing retirees to gamble in the stock casino, cronyism and corruption at the source of the money spigot, etc.
- betwixthewires 5y agoI just want to say I'm glad to see someone talking about economic growth and distinguishing between economic growth (what you call "natural growth") and the push for stock prices to go up ad infinitum. Too many people that get involved in discussions like this don't seem to understand that distinction, and I think you're on the money with regard to the effects of the latter.