I’ve always wondered why our economic policies were based on the premise of continual growth and expansion. The whole stock market depends on it.
What happens when growth in population crests? We turn to immigration to supply both workforce and consumer?
What happens when land for new homes and businesses fills up. We can’t build upward everywhere.
What happens when availability of certain essential natural resources peaks?
This article raises questions about what happens if and when the perceived perpetual growth peters out?
Will we have prepared ourselves? Will our economic policies have prepared us for it? Is our entire economic system dependent upon continued one time extraordinary events to fuel growth?
Could we have a system that provides for sustained slow or no growth? Could our country survive in a state of economic stasis? Could the world?
NYTimes: When Wealth Disappears