🎓 Can the Economy Grow Indefinitely

Exponential Growth

A number growing by a percentage no matter how small it is will compound exponentially. The economy grows at roughly 3% every year and this means our economy is growing exponentially.

Many people are concerned about whether continual exponential growth is even possible. People have a good number of different arguments as to why they think the economy can not keep growing.

Before we get into these arguments I want to first talk about why the economy grows and why having it continue to grow is so important

First the economy grows by having more products and better products being exchanged more often. This means anytime something is sold or bought it is contributing to the economy. This means that the more stuff we produce and consume the more the economy grows.

It is so important that the economy grows because a growing economy generally beans a higher quality of life for more of a population. A growing economy also eliminates a scarcity mindset and furthers more growth, innovation, and helps eliminate fighting and wars.

Without a growing economy people would develop a scarcity mindset and the world would become a zero sum game. This means that in order for someone to win another person has to lose, unlike a growing economy where everyone can win.

Some reasons people think the economy might stop growing are…

1. Inovation: People are worried that we might just run out of ideas and not be able to inovate anymore. I personally think this is the dumbest reason of them all.

2. Resources: There are plenty of resources on this planet but there is still a finite ammount. One day we will probably mine all of the natural non renewable resources on this planet. This would definitly halt the economy. I think this would be the most likely reason to stop growth.

3. Climate change: This is one of politics biggest concerns. If our planet starts to die a growing economy will have to slow down, or completly stop in order to reverse climate change. I think we will find way better ways to stop climate change than halting the economy.

My thoughts

I personally belive that the economy will continue to grow and people who are worried about it stopping are too short sited to see the true potential of humanity.

I belive that advancements, innovations, and improvements will always continue even if it is not obvious right now.

I also belive that as resources start to get more scarce, it will become more economically viable to use resources more efficiently buying us extra time to find ways to get more resources.

As far as getting more resources go I belive that one day (before we run out of resources on earth) we will be able to gather resources from space or other planets. This will also become more economically viable as space travel advances and resources become more expensive.

As far as climate change goes, I belive that our situation is much better than the media would have you think. It is much easier to make money by spreading fear than it is by spreading good news and innovation. I also belive that we are already on the right track to fix any climate change and that the planet will adapt overtime without us needing to worry.

In the end many people are concerned about the economy in the far future but I personally belive that as time goes on capitalism best interests will be to innovate in ways to sustain growth forever as long as humans are around.

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Other tools

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