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Ok, but... You better get used to higher taxes when you're of working age. And you better get used to reduced Social Security payments. Because these things
by nostromo 4y ago
Ok, but...
You better get used to higher taxes when you're of working age. And you better get used to reduced Social Security payments. Because these things rely on growth.
You better get used to a flat stock market. If you want to live off your investments when you're old -- you're going to have to save a whole lot more.
Growth helps governments inflate away their (very large) debts. In a static economy, this won't work -- so you better get ready to pay off all that money our government has borrowed.
People are not "obsessed" with growth -- growth is built into our economy in a fundamental way -- and ending growth would be extremely painful to regular people.
- havblue 4y agoIronically, economists know that people aren't obsessed with growth as much as just acting according to their own nature...
- deleted 4y ago[deleted]
- bamboozled 4y agoYou're acting like all human history was crap until we created endless growth, but it wasn't. So I don't think you're right.