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Infinite Growth: A Curse or a Blessing?
[working paper]
Abstract The article discusses the controversy over infinite growth. It analyzes the two dominant perspectives on economic growth and finds them based on a limited and subjective view of reality. An examination of the principal aspects of economic growth - economic activity, value, and value creation - helps... view more
The article discusses the controversy over infinite growth. It analyzes the two dominant perspectives on economic growth and finds them based on a limited and subjective view of reality. An examination of the principal aspects of economic growth - economic activity, value, and value creation - helps to understand what fuels economic growth. The article also discusses the correlations between production, consumption, as well as resources and population dynamics. The article finds that infinite and exponential economic growth is essential for the survival (conservation) of our economy and civilization.... view less
Keywords
economic growth; innovation; technical development; entropy; knowledge production; value added; ecological consequences; production; consumption; Malthus, T.; sustainability; theoretical economics
Classification
National Economy
Free Keywords
technological innovation; Solow; equilibration; production of disequilibrium; value creation; environmental degradation; "Malthusian Loop"
Document language
English
Publication Year
2022
Page/Pages
43 p.
Status
Preprint; not reviewed