3 ms·
He's a fictional conversation [1] between an economist and physicist where they discuss this very premise: Economist: Hi Tom, I’m [ahem..cough]. I’m an economi
by Eddy_Viscosity2 3y ago
He's a fictional conversation [1] between an economist and physicist where they discuss this very premise:
Economist: Hi Tom, I’m [ahem..cough]. I’m an economist.
Physicist: Hey, that’s great. I’ve been thinking a bit about growth and want to run an idea by you. I claim that economic growth cannot continue indefinitely.
Economist: [chokes on bread crumb] Did I hear you right? Did you say that growth can not continue forever?
Physicist: That’s right. I think physical limits assert themselves.
... the rest in the link ...
[1] https://dothemath.ucsd.edu/2012/04/economist-meets-physicist/ https://dothemath.ucsd.edu/2012/04/economist-meets-physicist...
- kmonsen 3y agoThat article ties growth to consumption, and consumption to energy use. This does not have to be true. We could all decide to multiply every currency with 10x and nothing would change except the number and we would have 10x economic growth as measured in the currency. That is an obviously simplified example, but it is not that contrived. Modern money is not tied to energy use. Money is created out of thin air every day and that is ok.
- Eddy_Viscosity2 3y agoThat isn't economic growth because there is no change in the supply or demand of goods or services which underlay economic activity.
- kmonsen 3y agoWhat is economic growth other than numbers getting larger?