The Economy can't keep on growing forever

Only One Person Can Save VENEZUELA!

 

Oh, that’s good.

 

Its true, resources are finite. And money certainly represents stored energy. However, what is unlimited is man’s creative genius.

Ayn Rand: When people refuse to consider the source of wealth, what they refuse to recognize is the fact that wealth is the product of man’s intellect, of his creative ability, fully as much as is art, science, philosophy or any other human value.—http://aynrandlexicon.com/lexicon/money.html

 

That's why their wages have been going up, more are moving to service industries, they are buying, investing in, and operating businesses abroad, and outsourcing something like 60 pct of manufacturing to poorer countries. Which is similar what the U.S. did.

BRICS and emerging markets are taking over, and the global market is huge: the demand is so high the amount of energy and resources that will be needed to meet it exceeds what the planet can provide by a factor of four.

Given that, the problem won't be the use of automation but the lack of energy and resources, which answers why the economy won't continue growing.

 

there is no evidence that resources are finite! When Penn. ran out of oil they said resources are finite. Today we have 10 times the population and consume 50 times the energy per person. what does that teach the liberal?

 

GARBAGE. This is the statement you were responding to:

"It's indicative of the subsidy to the landowner. Land value is NOTHING BUT the market's estimate of how much more the landowner can expect to take from the community by owning the land than he can expect to pay in taxes on it."

That is just a fact of economics, and there is nothing silly or ludicrous about it.

No, there is no resemblance between that statement and mine, as you are well aware.

I don't know what's next: you're the one makin' $#!+ up here because you have no facts or logic to offer.

 

Ok. You keep believing that convoluted maze of nonsense. Me? I’ll trust my own judgment, thank you very much. Best wishes.

 

Resources are finite because Penn. ran out of oil.

What affected Penn. is now global oil production, as I explained earlier.

 

Speaking of smart investment by the public sector:
(Here is a huge resource):
https://www.themacrotourist.com/posts/2019/01/23/mmt/

Including a link to Stephanie Kelton's engaging and easily understood talk on MMT:



The ideological Right will resist because some public sector planning is required, to ensure non-inflationary investment,
while operating alongside private sector activity - activity which always fails to employ all the resources (including labour) available to an economy.

As for the OP's proposition ie, "an economy can't keep growing forever", that's a side issue c.f. the importance of eliminating involuntary under-employment in any economy that claims to be functional and serving the basic needs of all citizens. (MMT can fund a jobs guarantee or basic income without raising taxes, provided the correctly planned investment are made, as explained in the above links).

 

Yes, there actually is such a thing as public investment.
But all too often things that are touted to be "public investments" are actually not (or the situation is far more mixed and complicated).

That's why even though public investments are theoretically the best type of investment there is, I am nevertheless very skeptical of it in practice.

Obviously Communism would have worked great if omniscient all-benevolent planning bureaucrats existed.

 

The managed public investment proposed by MMT is not communism. It's a means of ensuring maximum sustainable resource use (there is room for experimentation) - including and via elimination of the under-employment that frequently exists in private-sector resource utilisation - to maximise the community's achievable prosperity.

The links above will explain all.

 

It sounds good in theory, but isn't that just a form of partial Socialism in a different package?
Could you delineate the basic differences between MMT and Socialism? (if they are fundamentally different)

 

OK. You would rather continue to BE wrong than ADMIT you are wrong. Lots of people are like that. Don't beat yourself up. There are lots worse things a guy could do.

 

MMT is printing money in capitalist system on theory it will help poor and rich will pay
socialism is running or taxing businesses on theory it will help the poor.

 

Sure it is, its and idiots faith that libsocialist bureaucrats who have just killed 120 million will next time figure out a way to help people rather than kill them en masse.

 

libcommie insanity of course! printing money to create make-work jobs causes inefficiency poverty and eventually death!
Russian worker: "We pretend we are working, and they pretend they are paying us"
American worker: describing libcommie FDR's WPA: "We Piddle Around"

 

Thomas Jefferson:
"I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them"

Thomas Jefferson:
"Were we directed from Washington when to sow and when to reap, we should soon want bread"

 

Nah, I’m like Mycroft Homles—I rather people think I’m wrong than make effort to prove I’m right.

What is, is; what others think, if they think at all, is immaterial, and an enormous waste of time.

 

Kelton is an ignorant fool at best. Didn't mention inflation once! Case closed!

 

Um , the fool doesn't realize, that corps take money, and borrow their way to prosperity.

 

Means one thing; government control of the economy. It does not matter if you call it Communism, Socialism, Fascism, Progressivism, or Managed Public Investment, there’s one thing it will never be, free souls earning a living. But there is one thing it will always have—a thug with a gun pointed at your head, telling you, “Obey or die”.

 

I won't disagree with you that gene editing holds great promise to make human society more productive.

 

liberals simple lack the IQ to understand that free souls freely interacting billions of times daily, each time to nudge their standard of living upward, is infinitely superior in creating wealth than crude direction from libcommie guessing by thugs with guns in Washington.

In fact, The liberal IQ is so low that liberals don't even know how to inquire about this, capitalism's central mechanism.

 

so your supporting socialism?

 

yes, some degrees were just an excuse only to hire the rich, when everyone has them those will be meaningless.. I agree

so university degrees (like Trump university) are already worthless, the trick is to keep it a secret that they are only degrees for the rich