Economic Growth?

[ck27]

What is the need for this non stop economic growth? Why is it so important? Why cant we just stabalize at a certain point cause endless growth is impossible especially since the resources that supply it are very finite. Why cant we just stop and try and stabalize and hover at the same point?

[TheBigDog]

If the economy is not growing faster than the population then you are actually in a depression. We need to maintain growth faster than we gain people. It is also a sign of opportunity. As long as we are growing there is increased opportunity for prosperity. If the growth stops, then opportunity becomes more limited. Again... depression. Don't want that.

Bill

[ronthepon]

Well, but if we attempt to fix a goal of some kind, which not only defines economy, but also human population, it can be slightly viable.

Alas, people can't be controlled. If humans keep multiplying, there is the need for more resources. If there are enough resources, there will be multiplication.

This cycle will be hit hard the day resources exhaust.

[TheBigDog]

Fortunatly economies are not based just upon physical resources. An once of gold has a certain value in raw form. But is much more valuable when engineered into other forms. The value of engineering is endless. There is also the economies of services, recreation, entertainment. These are also limitless. And finally, the value of ideas. Many of the most valuable products of 20 years from now do not even exist today. Look at a movie made just 15 years ago and show me a cell phone. Or laptop computers. Humanity will constantly exceed the predictions of pessimistic economists. There will be low points. But humanity will get past them and continue to exceed the previous generations.

Bill

[ronthepon]

Originally Posted by TheBigDog

Fortunatly economies are not based just upon physical resources. An once of gold has a certain value in raw form. But is much more valuable when engineered into other forms. The value of engineering is endless. There is also the economies of services, recreation, entertainment. These are also limitless. And finally, the value of ideas. Many of the most valuable products of 20 years from now do not even exist today. Look at a movie made just 15 years ago and show me a cell phone. Or laptop computers. Humanity will constantly exceed the predictions of pessimistic economists. There will be low points. But humanity will get past them and continue to exceed the previous generations.

Bill

Excellent. I agree.

Economies also run on making a more valuable thing from a less valuable one.

[ck27]

Im trying to make an intelligent claim without just like i dont know. Is endless economic growth possible? Im a little pessimistic that it can go on forever. then i am optimistic on it also i just dont know. Right now though economic growth is dependent on oil, natural gas, and coal and that is what creates money. Im just a little worried when demand begins to outstrip supply in a year or so what is gonna be used to make up for it? Right now with us being dependent on ever increasing supplies of natural gas oil and coal for our economy to grow what happens when there is no more spare supply? what will fuel growth then? No im not one of those doomers that think its gonna be the end of us but i do believe we may head into some real rough times for the next 5-50 years with no other energy resources available or even in production right now at any meaningful level. then of course the human ingenuity always amazes me in the way we always seem to come out of the most hopeless situations even when its the mess we create ourselves.

[anglepose]

If the universe is infinete i guess so is economic growth

[ronthepon]

Originally Posted by anglepose

If the universe is infinete i guess so is economic growth

And If the universe is not infinite.....?

Unlimited economic growth is possible in only one way then: The new generations of products made are costlier than the last one.

Otherwise, economies will have to fall, if we continue to wish to live the progress way.

[Cedars]

Economics is not my strong point but ...

We have had rough times in the past too. I would guess as competition for the oil/energy resources increases, it will be the countries without a good base of value that will suffer first. As will the poor. But then, we have massive projects going on in different places on the globe that do alleviate the demand. The huge 3 gorges dam project in China, the big dam project in Canada (I cant remember the name) and if I remember right there is a huge dam project in Brazil.

The worst problem in this country, when it comes to the economy and the future is all the debt people (and our government) has. When things get tough there is no back up. Its been kind of a false growth because people charged their purchaces. They spent money they will earn in the future which means they have to pay the debt or go into bankruptcy. As prices go up then, people dont make more purchaces, they must use finances for needed items. Food, energy, etc are bought and luxury items are not purchaced. Luxury items are a major factor in the US economy. This and how so many jobs are being shipped out to other countries. People who make less money spend less money.

[ck27]

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