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Are limits to economic growth ?

30/04/2012

The limits of economic growth is a very old idea, but seems to be wrong because of accumulative nature of scientific and technological discovery. The problem of the unnatural growth, that David Harvey mentioned is a real problem, and is caused by the interests of politicians who need to recruit the masses to be reelected and the economic barons of the corporate management, that include all the companies, where self-appointed officials hold the grip on the public money and the capital, and the real owners, the public has nothing to say, since the ownership is to anonymous.  I believe the last crisis of 2008 exposed this fact very clearly, but the signs were on the wall already with collapses of companies like, Enron at 2001, WorldCom at 2003, Conseco 2003, Parmalat, etc. Yet not the politicians and not the corporate barons gave up their hold and continue as if nothing had happened and those barons had learned nothing.  Yet because of the shift of the economic focus from US-Europe to China-India-Asia something has to happen, and most probably this something will be reduction of wealth in US-Europe, and someone in these places will have to pay the price. The most probable candidate is the employed middle class. The wealthy are untouchable and the poor has nothing to lose, so welcome to the club, and this is not a socialistic-communistic club of  David Harvey.

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