I think we can separate innovation from growth. I think we can agree that we have resource limitations (whether it be livable space or ploughable land). Moder

I think we can separate innovation from growth. I think we can agree that we have resource limitations (whether it be livable space or ploughable land). Modern economies work on the premise of growing markets. Whether creating new markets or taking over old markets. With a steady state or shrinking population, you can value add and you can innovate, but there are no new "China market(s)" to expand into. If growth were not fundamental, then companies would not look to expand beyond their borders (whether local, regional, national or international). How would companies in modern economies survive if they should predict shrinking markets? Consumerism buys you some time (you need the iPhone umpteenth), at some point a hammer is good enough --with corner-case exceptions.