4 ms·
Crazy to me that this is downvoted. It's the core truth of our debt based economic system. Our economic system will explode violently in a default cascade with
by anm89 4y ago
Crazy to me that this is downvoted. It's the core truth of our debt based economic system.
Our economic system will explode violently in a default cascade without population growth or productivity growth and we haven't been able to figure out ways to consistently increase productivity, which is to say we need population growth to sustain our way of life.
It's why deflation is the boogeyman. Deflation is basically a win in a society with zero debt. Deflation is a humanitarian crisis at 130% public debt to gdp and whatever ~300% total debt to gdp we are at.
But population growth is a net loss for most of us. More plastic waste. More energy consumed and emissions created, more space taken up etc. There's already more than enough of us by any metric except the amount of gdp growth required to keep our economy running.
- zirgs 4y agoThe population of my country has been falling for 30 years in a row and yet its GDP is rising. How could that be?
- anm89 4y agoI don't think this is that complicated. Exactly as I literally said in the above post, the combination of labor quantity * productivity = output. if your labor quantity goes down but productivity goes up gdp can go up. This isn't my opinion, it's how economics define those terms. Also, labor quantity can go up or stay flat while total population goes down