Ask a politician: What if growth is over?
The Oil Drum has a feature on economic growth this week.
“One of the most surreal phenomena one encounters these days” writes Nate Hagens, “is that no country, no established economic research institute, and no international organization publicly discusses scenarios that don’t plan for a return to stable economic (GDP) growth.”
Every response to the global recession is based on a return to endless economic growth. There is no plan B, despite plan A being logically impossible. Shouldn’t we at least be discussing the possibility that a return to growth might not be possible?
“Given the constraints in natural resources, our currently unprecedented levels of debt on a global scale, and the absence of ideas for the next grand “leap forward” for mankind, it seems plausible that we might have to bid adieu to economic growth, and not just for a year or two, but for a long time.”
Hagens then suggests that we start asking politicians, and even posts a draft letter.