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Madmen and Economists



Anyone who believes in indefinite growth in anything physical, on a physically finite planet, is either mad or an economist.”
Kenneth E. Boulding (1910-1993)
John Scales Avery
Economists (with a few notable exceptions) have long behaved as though growth were synonymous with economic health.
If the gross national product of a country increases steadily by 4 percent per year, most economists express approval and say that the economy is healthy. If the economy could be made to grow still faster (they maintain), it would be still healthier. If the growth rate should fall, economic illness would be diagnosed.
However, it is obvious that on a finite Earth, neither population growth nor economic growth can continue indefinitely. ....

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