Economists Forecast the End of Growth as We Know It (Resource Depletion)

[NickB79]

http://www.alternet.org/economy/economists-forecast-end-growth-we-know-it-its-about-time

Unlimited GDP growth is over as we enter a new age of resource scarcity - we must transition to a new economy.

The last few weeks has seen bad news for the global economy, with the US and Europe facing growth slowdowns, and even much vaunted economic powerhouses Brazil, Russia, India and China faltering unexpectedly. While mainstream economists continue to predict an ongoing 'recovery', other leading experts point to the end of growth as we know it for the foreseeable future.

snip

These downgrades are yet another example of the failure of mainstream economic models to keep up with the real nature and pace of global economic deterioration. Indeed, missing from the above analyses is recognition of a central factor: that the productivity gains driving industrial growth were enabled by the abundance of cheap fossil fuelsand other resources.

[Warren Stupidity]

1. Capitalism fails without continuous growth.

The entire financial system is based on growth. The only way to keep the system seemingly functional is by creating speculative bubbles that simulate growth.

[Marblehead]

2. If we printed our own money

I believe it is much more sustainable. The fed creates the bubbles to effect a skim off the top...

[Warren Stupidity]

3. If we built our own cooperative economies ...

but until we are forced out of comfort zone nothing will change.

[Marblehead]

4. Yes

Without privately owned central banks

[4dsc]

5. Someone finally makes a statement

The sad part of this is that if you ask any person on the street whether or not there can be unlimited economic growth forever you'll either get no answer or a dumbfounded look.

I would say that most DU'ers are in denial over this very subject.