We should keep two things in mind before we go overboard with the ponzi scheme thing:
1) Exponential GDP growth does not necessarily mean using exponentially more natural resources. Quite the contrary. A lot of growth could come from work going into reducing resource consumption. Describing this distinction as quantitative vs qualitative growth creates the false impression of a need for some kind of revolution in order to make that switch. It's not a switch. We're already right in the middle of it and it's a gradual development.
2) Global debt is always zero. Debt is always a claim on other people's labour. If debtors throw their hands up and say, sorry I can't work enough to provide that labour, debt is written off and that's it. There's no link to the use of natural resources at all.
Comments
We should keep two things in mind before we go overboard with the ponzi scheme thing:
1) Exponential GDP growth does not necessarily mean using exponentially more natural resources. Quite the contrary. A lot of growth could come from work going into reducing resource consumption. Describing this distinction as quantitative vs qualitative growth creates the false impression of a need for some kind of revolution in order to make that switch. It's not a switch. We're already right in the middle of it and it's a gradual development.
2) Global debt is always zero. Debt is always a claim on other people's labour. If debtors throw their hands up and say, sorry I can't work enough to provide that labour, debt is written off and that's it. There's no link to the use of natural resources at all.