3 ms·
Stability in the current economic discourse implies growth at all costs due to the way that our monetary systems are organized. "If we didn't raise the debt li
by dnautics 5y ago
Stability in the current economic discourse implies growth at all costs due to the way that our monetary systems are organized. "If we didn't raise the debt limit our economy would collapse"; discourse on "countries must meet their growth targets" e.g.
- refurb 5y agoIt absolutely doesn’t imply grow at all costs. And, you seem to think GDP is consumer goods, but GDP is what pays for social safety nets, healthcare, etc.
- dnautics 5y agoIt actually does. What happens if you stop growing the money supply? The system crashes because you force a cascading inability to repay debts (this is just math and is unavoidable). Growing the money supply without growing the economy also means crashes. So, yeah. Stability under our current system means grow at all costs.