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The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut

nytimes.com

11–20 of 102 posts

Re: The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut

#11
post #6

So, I have a question and it may seem like a childish or stupid one because I think I've missed something somewhere. Our society, and I think capitalism in general, seems to be pinned on the foundation of perpetual growth. The question for me is: how can we have infinite growth on a planet with limited resources?

Space travel.

Re: The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut

#14
post #8

Earlier quoted context omitted.

Technology? Well not infinite but up to the point of a dyson sphere.

What massive efficiencies have technology brought us lately? I count ... fracking as a real improvement. That's it!

Fracking as we know it today started in the 40’s, it’s just a matter of economics that it’s feasible to do on a wide scale today. Mind you, that only goes to further reinforce your point.

Edit. Every example other people are posting have been around for longer than most of us have been alive. I’m not trying to take a dump on the notion of progress, but I feel the distinction between “new” and “maturing” is being lost.

Re: The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut

#15
post #6

So, I have a question and it may seem like a childish or stupid one because I think I've missed something somewhere. Our society, and I think capitalism in general, seems to be pinned on the foundation of perpetual growth. The question for me is: how can we have infinite growth on a planet with limited resources?

While economic output has historically correlated with ressource usage, there is nothing that requires such a link. For energy, this is called “energy intensity”, and we already see it stagnating, and energy being sourced from infinite (renewable) resources rather than fossil fuels.

The same can happen with materials: there is definitely enough iron and brick and glass and cobalt on this planet to enable everyone to live in comfort and safety. One iPad likely requires far less natural resources than a C64 and screen, while delivering far more value. And once people are clothed, and fed, and housed, consumption increasingly turns to “intellectual” value, i. e. theatre, or Netflix, or a good book.

Re: The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut

#16
post #6

So, I have a question and it may seem like a childish or stupid one because I think I've missed something somewhere. Our society, and I think capitalism in general, seems to be pinned on the foundation of perpetual growth. The question for me is: how can we have infinite growth on a planet with limited resources?

Economic growth is not measured in the usage of limited resources. You can have growth by simply increasing the efficiency not the production sector and offering more services.

Re: The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut

#17
post #2

I still personally believe that the real underlying truth of "peak oil" was that as lower EROEI sources replaced higher ones, even though we would be able to grow the total number of barrels per day, the net-energy provided to drive the economy from those barrels would(is) plateau(ing). Everyone who points to fracking (or even worse tar sands) as a disproof of peak oil never understood the underlying argument about h…

Energy intensity is going down [1], so it seems like the economy is less about energy consumption than it used to be? But averages can be misleading.

[1] https://en.wikipedia.org/wiki/Energy_intensity

Re: The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut

#18
post #6

So, I have a question and it may seem like a childish or stupid one because I think I've missed something somewhere. Our society, and I think capitalism in general, seems to be pinned on the foundation of perpetual growth. The question for me is: how can we have infinite growth on a planet with limited resources?

1) Think of the universe, don't limit yourself to 1 tiny planet 2) Technology 3) Re-using resources

Re: The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut

#19
post #8

Earlier quoted context omitted.

Technology? Well not infinite but up to the point of a dyson sphere.

What massive efficiencies have technology brought us lately? I count ... fracking as a real improvement. That's it!

Internet? You know you wouldn't be able to take part in this debate without it. I wasn't able to read so many interesting things 20 years ago, and I was behind in everything because I wasn't born at the right place in the world.

Re: The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut

#20
post #8

Earlier quoted context omitted.

Technology? Well not infinite but up to the point of a dyson sphere.

What massive efficiencies have technology brought us lately? I count ... fracking as a real improvement. That's it!

Long-distance phone calls

Long-distance message transmission

DTP

Photography

Short-haul flights

Electric lighting (LED uses less than 10% of the power of incascendent bulbs)

Travel, in general (remember luggage did not have wheels until the 70s because it was expected that a traveler would have servants to carry their luggage)

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