Send a Tweet
Most Popular Choices
Share on Facebook Share on Twitter 3 Share on LinkedIn Share on Reddit Tell A Friend Printer Friendly Page Save As Favorite View Favorites
Exclusive to OpEdNews:
OpEdNews Op Eds

The End of Economic Growth

By   Follow Me on Twitter     Message Richard Clark       (Page 1 of 7 pages)     Permalink    (# of views)   7 comments

Related Topic(s): ; ; ; , Add Tags
Add to My Group(s)

Valuable 5   Must Read 4   Supported 2  
View Ratings | Rate It

opednews.com

Author 8235
Become a Fan
  (110 fans)
- Advertisement -

'The End of Growth' is a book by Richard Heinberg that is set for publication by New Society Publishers in July 2011.   What follows below is a synopsis and abridgment of Heinberg's introduction  to the book.   (If you want a PDF copy of the entire unedited introduction, click here.

 

The central assertion of this important book is both simple and startling:   Economic growth as we have known it is essentially over and done with.

 

- Advertisement -

The economic "growth" of the past consisted of the expansion of the overall size of the economy (with ever more people being served and ever more money changing hands).   It also had to do with the quantities of energy and material goods flowing through it.

 

The economic crisis that began in 2007-2008 was both foreseeable and inevitable, and it marks a permanent, fundamental break from past decades--a period during which most economists adopted the unrealistic view that perpetual economic growth is necessary and also possible to achieve.   But there are now fundamental barriers to ongoing economic expansion, and the modern world is increasingly colliding with those barriers.

- Advertisement -

 

This is not to say the U.S. or the world as a whole will never see another quarter or year of growth relative to the previous quarter or year.   However, when the bumps are averaged out, the general trend-line of the economy (measured in terms of production and consumption of real goods) will be level or downward rather than upward, from now on.

 

It will simply not be possible for any region, nation, or business to continue growing in any sustained way.   Whatever growth does take place, temporarily, will be achieved at the expense of other regions, nations, or businesses.   Another way to say this is that the global economy is now playing a zero-sum game with Mother Nature, in which an ever-shrinking pot will be divided up among the winners.

 

Why is economic growth ending?

- Advertisement -

 

Financial pundits point to profound problems internal to the economy--including overwhelming, un-repayable levels of public and private debt, and the bursting of the real estate bubble--as immediate threats to the resumption of economic growth.   Their assumption, however, is that eventually, once these problems are properly dealt with, growth can and will pick up again.   But the pundits fail to see factors external to the financial economy that make a resumption of conventional economic growth an impossibility.   In other words, this is not a temporary condition, it is permanent.

 

Next Page  1  |  2  |  3  |  4  |  5  |  6  |  7

 

- Advertisement -

Valuable 5   Must Read 4   Supported 2  
View Ratings | Rate It

opednews.com

Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)
 

Richard Clark Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Follow Me on Twitter     Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Was Pat Tillman Murdered by an American Sharpshooter to Shut Him up?

New JFK assassination bombshells

Two U.S. presidents implicated by ex-CIA black-ops assassin

The cholesterol - heart disease scam: How the medical-industrial complex is raking in billions at our expense

Four Ticking Time Bombs That Will Soon Ignite a Revolution

The Ultimate Goal of the Bankster-led Political-economic Warfare Being Waged Against Us Is . . . ?