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View Diary: The End of Economic Growth, Economic Inequality, and Class War (25 comments)

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  •  Perhaps innovation will be in what Economy means. (4+ / 0-)

    And we just need a great alternate-energy innovation. Maybe along the lines of getting cold fusion to work consistently, or in batteries coupled with widespread use of the Kinetic Energies palette.

    Then all the expenditure, direct and indirect, connected with fossil fuels will get freed up and that's where growth comes in. For a generation or two. Then we'll be more or less back to "how do we grow from here?" as a new homeostasis sets in.

    But here's a misconception I'd like to see disappear.

    Capitalism is based on constant economic growth, but what happens if it ends?
    Not really. The Capitalist theory and ethic demands constant economic growth, but Capitalism is truly based on plunder and nothing else.

    The earth being more or less fully scoped out, there are no new populations to go and enslave, hook on opium, etc.; perhaps a few new resource centers in the emerging Arctic; but basically nobody and nothing left to plunder but the existing populations.

    Hence, globalization, stratification, and debt-slavery. The inevitability of interest (growth)-based-economies is you can only make profit from the hide of the populace at some point. And that point is right about now.

    It's in the arrangement of Economics, not in the fantastical perpetual growth machine, that we have to look for innovation. Seeking viability over profit. That doesn't come with the way political power is done currently.

    The Internet is just the tail of the Corporate Media dog.

    by Jim P on Mon Oct 15, 2012 at 12:11:36 PM PDT

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