Two days ago, I was lamenting the curse of growth at all cost as it is served to us by our governments. In the past, I have suggested the idea of “qualitative growth” that could bring us better services and products and might returns more good jobs to advanced countries.
With further considerations, such a return to quality might mean in aggregate less “stuff” produced, less consumption, less revenue and ultimately less GDP and a fall in our standard of living.
This might work well though with advanced countries that are beginning to suffer a decline in population and are considering “importing” labor, as is the case with Germany or Japan.
A return to quality might soften the blow, but would not help much in maintaining the wealth of these countries. And then, there is the growing labor demand for those tasks no one wants to do anymore in these same “advanced” countries.
Harnessing growth is by no mean easy and cannot be dissociated from out-of-control population growth. It then begs the question, where is the “soft-spot” if there is ever one, but doesn't seem to preclude an inevitable era of massive belt-tightening...
Monday, December 12, 2016
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