One argument of those who defend growth is that growth is the natural and inevitable course of the economy. Liberated from governmental or other restrictions, and left to their own powers, entrepreneurs will make an economy grow, as they are endlessly inventive in growing their own incomes.
Continued exponential economic growth is impossible, but the S-curve of slowing growth followed by a steady state is not the only other alternative. If the goal is maintaining GDP at the highest possible level, then the S-curve is the best case scenario, but in today’s world that isn’t necessarily desirable or even possible.
In a recently published article in Nature Climate Change, Jeroen van den Bergh argues that neither degrowth nor green-growth strategies might lead to sufficient climate action and hence makes the case for a third option which he calls “agrowth”.
Actuary Gail Tverberg explains the tight correlation between the rates of GDP growth and growth in energy supply.
In this post, I show some longer-term time series relating to energy growth, GDP growth, and debt growth–going back to 1820 in some cases–that help us understand our situation better.
I hate to say I told you so, and could be too dead to do so, so I’ll tell you in advance: One decade soon, environmental problems will stop tracking with GDP.
Glut of Capital and Labor Challenge Policy Makers: Global oversupply extends beyond commodities, elevating deflation risk. To me, this is a very serious issue, quite likely signaling that we are reaching what has been called Limits to Growth…
In Part 1 of this series, I talked about why cheap fuels act to create economic growth. In this post, we will look at some supporting data showing how this connection works.