Posted: Nov 12, 2013 11:02 pm
Economic growth is an intrinsic goal of our economic systems because of the way un-backed FIAT debt/credit (othwerwise known as "money") is lent into existence at interest.VazScep wrote:I'd imagine there are subtleties. You could have explosive economic growth in the IT sector and in intellectual property whilst seeing resource usage decline.
That said, I'm not sure why economic growth is a goal. I have a vague intuition that a fiat currency economy is only healthy when it is growing so that it can pay off the interest accumulated when most money circulating is debt.