Economic growth is unsustainable. Our
economy, as it is today, is based on growth. If the economy isn't
growing, the economy is bad, and a lot of bad things happen. That is
because of the premises that our economy is based on.
I am not an economist. But I do think
about the economy, and I wonder if economists think at all about the
economy the way I do. I like to think about the big picture. That
means considering as many aspects of an issue over the longest term
that is practical. When considering the economy, and its basis on
growth. I think of what that growth is based on. And I think that
growth is based on people. Consumers.
Consumers in the aggregate contribute
to growth in two ways. The first way is by consuming more, and the
second way is by creating more consumers. Neither of these two
contributors of growth is sustainable.
We have already increased our
consumption to the point that as Americans we consume substantially
more per capita than the rest of the world. Not only has this
resulted in an unprecedented depletion of our natural resources,
increased pollution and a host of other problems, but we are
exporting our consumer culture to the rest of the world, skyrocketing
the levels of global consumerism.
And as far as creating more consumers,
beyond the exportation of our consumer culture, more consumers are
created by creating more people. Population growth creates more
consumers.
So, I look at the long term, or even
medium term, and see that this is unsustainable. Even looking far
enough into the future where globalization has pulled the whole
world's population into the consuming economy, the point comes where
there are no more undeveloped countries to add to the economy. In
that future everyone lives in a country that has a high level of
consumerism. Further growth on that front is essentially gone. The
only other way for the economy to grow is to add more people. More
people, more consumption. How ever many people you think this finite
planet can sustain, that number is not infinite. Regardless of where
you think that limit is, there is a limit.
So, given that there is a limit to the
expansion of markets, and a limit on the expansion of the earth's
population, it seems to me that there is a limit on the capacity of
economic prosperity to be based on growth. That being said, I
believe we need to look at that future and begin the transition to a
sustainable economy that is decidedly not based on growth. We need
to visualize that future and start to implement the policies that
make it possible and make it work.