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They make the argument that growth, in an of itself, is a "ponzi scheme". Whereas boom-bust economic cycles are nothing new, and are clearly not the same as a
by koheripbal 4y ago
They make the argument that growth, in an of itself, is a "ponzi scheme". Whereas boom-bust economic cycles are nothing new, and are clearly not the same as a literal ponzi scheme.
I don't think there's any novel thinking here. They're just rebranding cyclic economics for dramatic effect.
- adgjlsfhk1 4y agoThe problem isn't growth the problem is that growth is required to pay for maintenance of the currently existing infrastructure. This is ponzi-scheme adjacent because if growth ever stops (and it has to), then everything collapses.
- koheripbal 4y agoWhat you are describing is not a Ponzi scheme at all. It's just regular unsustainable growth.