Why is economic growth so important?
Discussion
anonymous said:
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If you want to stop using the M25 you can. If there is some advantage to you in using it then you have to accept there is an advantage for everyone else as well.Or do you want enough growth that you can afford to drive to work but not so much that other people can?
I guess at the most basic level, as the population grows, the economy has to grow at the same rate for living standards to remain the same.
However, what people really expect is for living standards to constantly improve, therefore the economy has to constantly grow.
The problem is, most people in Britain have no more skills than the average Chinese or Indian worker, yet expect to be paid five times as much for doing the same job. This means growth can no longer come from our productive output and instead comes in the form of borrowing, both in the private and public sector, which is clearly unsustainable in the long term.
However, what people really expect is for living standards to constantly improve, therefore the economy has to constantly grow.
The problem is, most people in Britain have no more skills than the average Chinese or Indian worker, yet expect to be paid five times as much for doing the same job. This means growth can no longer come from our productive output and instead comes in the form of borrowing, both in the private and public sector, which is clearly unsustainable in the long term.
I share your thoughts OP. We have peaked in the western world imo and life ain’t going to get any better.
The day that the majority come to the realisation that we buy so much s
t we don’t need the whole lot will come crashing down.
All western countries need immigration to carry on growth as the natural numbers ain’t there with people choosing to have less kids.
But on the flip side the population don’t really like immigration look at the number one reason for people wanting Brexit.
Why are people having less kids?, my personal reason was cost and wondering what kind of world they would be living in. It’s a self fulfilling circle.
The day that the majority come to the realisation that we buy so much s
t we don’t need the whole lot will come crashing down. All western countries need immigration to carry on growth as the natural numbers ain’t there with people choosing to have less kids.
But on the flip side the population don’t really like immigration look at the number one reason for people wanting Brexit.
Why are people having less kids?, my personal reason was cost and wondering what kind of world they would be living in. It’s a self fulfilling circle.
moles said:
I share your thoughts OP. We have peaked in the western world imo and life ain’t going to get any better.
The day that the majority come to the realisation that we buy so much st we don’t need the whole lot will come crashing down.
All western countries need immigration to carry on growth as the natural numbers ain’t there with people choosing to have less kids.
But on the flip side the population don’t really like immigration look at the number one reason for people wanting Brexit.
Why are people having less kids?, my personal reason was cost and wondering what kind of world they would be living in. It’s a self fulfilling circle.
Shouldn't we aim for quality rather than quantity? You need to earn £45k a year to make a net contribution in tax, so unless a lot of the immigrants go home before retirement migration is only solving a short term problem while creating an even bigger long term issue (pension affordability).The day that the majority come to the realisation that we buy so much s
t we don’t need the whole lot will come crashing down. All western countries need immigration to carry on growth as the natural numbers ain’t there with people choosing to have less kids.
But on the flip side the population don’t really like immigration look at the number one reason for people wanting Brexit.
Why are people having less kids?, my personal reason was cost and wondering what kind of world they would be living in. It’s a self fulfilling circle.
economic growth is important because central bank and all money is debt. we have to grow to pay the perpetual debt.
bring back the gold standard and abolish the central bank and growth will be renamed 'wastefulness'.
inflation etc
read 'Modern Money Mechanics' to gain a more rounded understanding of how our currency works.
bring back the gold standard and abolish the central bank and growth will be renamed 'wastefulness'.
inflation etc
read 'Modern Money Mechanics' to gain a more rounded understanding of how our currency works.
Yes we should. Me and my wife often get into arguments about quality of life.
She’s a nurse and wants to save everyone from everything. I’m the opposite we should stop keeping people alive that have dementia and other problems just for the sake of it.
She thinks I’m heartless and lack empathy but I think the world would be a much better place if we all went back to living shorter lives and upped the quality of it a notch or two.
She’s a nurse and wants to save everyone from everything. I’m the opposite we should stop keeping people alive that have dementia and other problems just for the sake of it.
She thinks I’m heartless and lack empathy but I think the world would be a much better place if we all went back to living shorter lives and upped the quality of it a notch or two.
Olas said:
economic growth is important because central bank and all money is debt. we have to grow to pay the perpetual debt.
bring back the gold standard and abolish the central bank and growth will be renamed 'wastefulness'.
inflation etc
read 'Modern Money Mechanics' to gain a more rounded understanding of how our currency works.
Pay the debt to whom?bring back the gold standard and abolish the central bank and growth will be renamed 'wastefulness'.
inflation etc
read 'Modern Money Mechanics' to gain a more rounded understanding of how our currency works.
Why would returning to the gold standard mean that wealth would not increase?
Why is increased wealth bad anyway?
What's inflation got to do with it?
It might be possible to grow economies almost infinitely once we start harvesting the resources of the solar system.
Here on Earth it seems to be largely due to those in big business who benefit the most from the fruits of economies lobbying political entities to keep their pockets swollen.
Here on Earth it seems to be largely due to those in big business who benefit the most from the fruits of economies lobbying political entities to keep their pockets swollen.
anonymous said:
[redacted]
If you want healthcare, police, education, roads, infrastructure, technology, a military, law and order etc, then we can't all be fishermen in a sleepy village.Growth is needed because all that costs more than we're prepared to pay, and there are increasingly more people wanting a part of it.
anonymous said:
[redacted]
Reminds me of a movie actually. Everyone is young and lives to 100 and doesn't age past 25ish. When they hit 100 there hand crystal turns a colour and they get killed in a game or go on the run and be hunted. I'd take that in a heart beat if it was in anyway possible. I wonder how many people who think we should all strive to live like the apocryphal fisherman have gone ahead and changed their lifestyles to be like his. There’s nothing to stop a person living in the UK from setting themselves up as, say, a subsistence farmer if they’re disillusioned with ‘normal’ life, or they could move somewhere warmer if they want to copy the fisherman.
Dr Jekyll said:
Pay the debt to whom?
Why would returning to the gold standard mean that wealth would not increase?
Why is increased wealth bad anyway?
What's inflation got to do with it?
Pay the debt to the lenders, who in turn borrowed the money from the central bankWhy would returning to the gold standard mean that wealth would not increase?
Why is increased wealth bad anyway?
What's inflation got to do with it?
Gold standard underpins the alue of the currency, fixed gold reserve means fixed value & no inflation.
Increased wealth is bad because all money is debt
Inflation is the result of a continually devaluing currency where our 'value' is shared out among more and more debt notes.
Again, read 'Modern Money Mechanics' to gain a beter understanding of the creation and issue of currency.
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