>a lot of our economics presumes growth and, if we don’t get it, a lot of terrible stuff happens
What does this actually mean? Every time I try to wrap my head around why it's bad e.g. for a business to make a constant profit, rather than an increasing profit; or for the population to dip to some number and settle there, rather than increase; the explanations seem to become circular very quickly. I know it's partially my fault for not having a very strong economic education, but it also feels like something is fundamentally wrong with the theories - like they are making some underlying assumption about what is "good" that I don't share. But I can never seem to get down to it.
The only thing I understand is that as the ratio of old to young grows, more taxes are needed, of course. But that would only be painful during a significant rate of change, not after the number is stable, no? Is that really somehow apocalyptic?
What does this actually mean? Every time I try to wrap my head around why it's bad e.g. for a business to make a constant profit, rather than an increasing profit; or for the population to dip to some number and settle there, rather than increase; the explanations seem to become circular very quickly. I know it's partially my fault for not having a very strong economic education, but it also feels like something is fundamentally wrong with the theories - like they are making some underlying assumption about what is "good" that I don't share. But I can never seem to get down to it.
The only thing I understand is that as the ratio of old to young grows, more taxes are needed, of course. But that would only be painful during a significant rate of change, not after the number is stable, no? Is that really somehow apocalyptic?