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What specific methods should be considered to increase economic growth

Well here's the sticking point isn't it.  Will someone please tell me how to "increase economic growth" without further drawdown of limited resources...? I think an element of any New Left manifesto should be how to manage a sustainable steady-state economy, as opposed to buying into the Infinite Growth mythology.

The only way an economy can grow in a world of limited physical resources is to boom and then bust, to undergo a series of traumatic "game over, reset" moments when much is destroyed (value, physical property, life etc) in order to clear the ground for another growth phase.  The real trick is how to model a human economy on a living ecosystem, so that it runs more or less in balance without either dwindling and dying out, or burgeoning excessively and exhausting its nutrients and waste sinks.


The difference between theory and practise in practise ...

by DeAnander (de_at_daclarke_dot_org) on Sat Jul 23rd, 2005 at 10:35:50 PM EST
I think an element of any New Left manifesto should be how to manage a sustainable steady-state economy, as opposed to buying into the Infinite Growth mythology. The real trick is how to model a human economy on a living ecosystem, so that it runs more or less in balance without either dwindling and dying out, or burgeoning excessively and exhausting its nutrients and waste sinks.

And...we have to figure out how to talk about this effectively, so people won't reject it out of hand as being anti-business or "kooky". That said, today, with peak oil (and many other problems) now being discussed, it makes complete sense to be talking about a sustainable economy.

"Once in awhile we get shown the light, in the strangest of places, if we look at it right" - Hunter/Garcia

by whataboutbob on Sun Jul 24th, 2005 at 05:26:04 AM EST
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so people won't reject it out of hand as being anti-business or "kooky"

Right, and we might add "as being anti-jobs". The notion that if we don't have growth we don't have jobs, is now deeply ingrained into most people's minds. (Yes, the US is currently showing that you can have "growth" and not have jobs, but that's not the MSM's conventional wisdom).

by afew (afew(a in a circle)eurotrib_dot_com) on Sun Jul 24th, 2005 at 08:46:50 AM EST
[ Parent ]
yes, this is a fundamental issue. We must redefine "growth" as doing the same with fewer resources, i.e. focus on efficiency and not on total output. We should focus on value added and not just on (monetary) value, which means that we must price inputs correctly.

We should fight hidden or implicit subsidies, and regulate eternalities.

REGULATION is what we nesd to work on.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Sun Jul 24th, 2005 at 05:38:30 AM EST
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