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> which is wholly predicated upon unbounded exponential growth The economy does not require and is not predicated upon unbounded exponential growth. Do not co
by mpyne 1y ago
> which is wholly predicated upon unbounded exponential growth
The economy does not require and is not predicated upon unbounded exponential growth.
Do not confuse economic activity growing where growth is easy, as a mandate for growth to work at all.
Companies that can no longer grow but can keep profits by keeping prices above costs can continue indefinitely. But ultimately the economic represents the activity of human workers aided by technology.
If everyone is working and there's no technological help to be had then the economy can no longer expand... but in this model of the world everyone is gainfully employed and doing something, and that can resolve in many different ways of setting cost (of labor and technology) and price (of goods and services).