The Impossibility of Growth Demands a New Economic System
NOVANEWS
Why collapse and salvation are hard to distinguish from each other.
by George Monbiot
Let us imagine that in 3030BC the total possessions of the people of Egypt filled one cubic metre. Let us propose that these possessions grew by 4.5% a year. How big would that stash have been by the Battle of Actium in 30BC? This is the calculation performed by the investment banker Jeremy Grantham(1)
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The trajectory of compound growth shows that the scouring of the planet has only just begun. We simply can't go on this way.
Go on, take a guess. Ten times the size of the pyramids? All the sand in the Sahara? The Atlantic ocean? The volume of the planet? A little more? It’s 2.5 billion billion solar systems(2). It does not take you long, pondering this outcome, to reach the paradoxical p...
