Can We Have Prosperity Without Growth?

I mean it's obviously possible. "Just" require prefunding without any growth assumptions. Of course, it would be tremendously expensive and workers would not appreciate the effect on wages.

Re: Can We Have Prosperity Without Growth?

#7

Post by samdung » Tue, Feb 04, 2020, 12:12 PM UTC

As long as you have short term growth targets (quarterly financial results) you cannot get big businesses to reckon with the environment. The only possible way is for people to stop buying unwanted stuff just because it is cheap.

Re: Can We Have Prosperity Without Growth?

#8

Post by julbaxter » Tue, Feb 04, 2020, 12:14 PM UTC

Can we have prosperity without growth? No. Can we have sustainability with growth? No. Then we can not have prosperity and sustainability. Can we afford not having sustainability? No. Then we can not afford prosperity.

Re: Can We Have Prosperity Without Growth?

#9

Post by digitalengineer » Tue, Feb 04, 2020, 12:14 PM UTC

dharma1 wrote: post #4

I'm not sure how you would fund pensions without growth

Agreed. you can not. There are just too many pensioners: "Between now and 2050,the number of older persons will rise from about 600 million to almost two billion. In less than 50 years from now, for the first time in history, the world will contain more people over 60 than under 15"

https://www.cassandracapital.net/post/the-unprecedented-demo...

Re: Can We Have Prosperity Without Growth?

#10

Post by dharma1 » Tue, Feb 04, 2020, 12:17 PM UTC

asdfasgasdgasdg wrote: post #6

dharma1 wrote: post #4

I'm not sure how you would fund pensions without growth

I mean it's obviously possible. "Just" require prefunding without any growth assumptions. Of course, it would be tremendously expensive and workers would not appreciate the effect on wages.

Imagining zero growth (-2% or so with inflation) and long life spans, I think the numbers would look pretty bad for most people