The GDP is itself exponential. A growth of +2% a year is an example of an exponential curve. Sure there are "limits to growth" (see Meadows et al.) but it's not clear whether those limits are reached yet.
Unless we find a way to 'produce' (the P in GDP) without increasing entropy by digging up stuff (oil, metals, whatever) and then releasing them into our ecosystem once we're done with them, those limits seem to be pretty close though.
That's not just me thinking that. That's the Club of Rome, in the 70's.
As long as the Sun shines on (and this is essenty “for ever”), there is an increasing accumulation of energy in the planet: that is where the possibility of exponential “growth” comes.
The population isn't growing exponentially anymore and most productivity gains per capita are linear. It's only the big breakthroughs that made it exponential by getting rid of old professions and replacing them with new ones.
GDP rising exponentially is also clearly unsustainable.
We have IMO reached a paradigm shift in central bank policy after decades of low rates and low inflation. The recent past is not a good guide to the near future in markets.
The entirety of human history since prehistoric times to the present gives evidence contrary to your claim. Human societies have experienced exponential growth since forever, with only occasional brief temporary setbacks. Even the Black Death is a blip on the exponential curve of economic progress.
ArnoVW|3 years ago
That's not just me thinking that. That's the Club of Rome, in the 70's.
https://en.wikipedia.org/wiki/The_Limits_to_Growth
Their conclusion at the time:
"the most probable result will be a rather sudden and uncontrollable decline in both population and industrial capacity"
pfortuny|3 years ago
afpx|3 years ago
baq|3 years ago
imtringued|3 years ago
grey-area|3 years ago
We have IMO reached a paradigm shift in central bank policy after decades of low rates and low inflation. The recent past is not a good guide to the near future in markets.
adastra22|3 years ago