Posted: Oct 06, 2013 7:10 pm
by iamthereforeithink
Its fine to refer to overall growth of the economy for accounting or calculation purposes, but not when you are trying to build a theory about exponential growth and making claims about its nature. Then you have to account for all of its internal dynamics in detail. Otherwise all you get is fallacious conclusions borne of ignorant premises, such as in the OP. It's meaningless to make a claim about the growth dynamics of the overall economy, when you don't independently account for all the different sub-dynamics that constitute it. There is no "net effect" you can talk about coherently when trying to determine the limits to growth, without reference to the constituent parts. Its poor and unscientific methodology, but I'll grant you that it makes for good copy. People tend to prefer simplistic, sweeping generalizations over complex and detailed analyses.