Thursday, March 12, 2009

The Ponzi Eonomy

For a long time I've thought that our civilization is to some extent a ponzi scheme. I say this because a lot of what we take for granted depends upon population growth, more consumption, technological progress etc. If any of these is removed, then enormous economic stresses inevitable result. Our economy doesn't work if it's merely standing still.

This idea is gaining more currency lately.

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