An economy without growth will fall apart. Yuval Noah Harari said it very well. Lenders only lend because there’s faith that $1 loaned today becomes more than $1 paid back tomorrow.
Without growth there’s no incentive to lend. Without lending we’re looking at medieval level economies.
It’s not the only thing we care about, but it’s a necessity. That being said growth can come in all shapes and sizes. Elevating everyone out of poverty is growth. Reducing waste increases efficiency, that’s also growth.
Growth is not a bad word. It’s absolutely required for positive outcomes. The potential for growth is infinite. What, you might ask, about when everyone is elevated out of poverty and waste is largely eliminated? Truly infinite requires growth even beyond that. We should be so lucky to face that problem. But the answer there is obvious as well. The resources available in the universe are effectively infinite.
Without growth there’s no incentive to lend. Without lending we’re looking at medieval level economies.
It’s not the only thing we care about, but it’s a necessity. That being said growth can come in all shapes and sizes. Elevating everyone out of poverty is growth. Reducing waste increases efficiency, that’s also growth.
Growth is not a bad word. It’s absolutely required for positive outcomes. The potential for growth is infinite. What, you might ask, about when everyone is elevated out of poverty and waste is largely eliminated? Truly infinite requires growth even beyond that. We should be so lucky to face that problem. But the answer there is obvious as well. The resources available in the universe are effectively infinite.