Hacker News new | ask | show | jobs
by zerogvt 2570 days ago
Speaking reasonably and from an ecologic point of view you're 100% right. But for the current economic system simple sustenance, i.e. not growing, is similar to death. It's much like a shark, if it stops moving it cannot breathe. I think a lot of it is down to being powered by loans which in essence can be paid back only if the total output grows. Imagine a bank that lends you 100K to set up a business. You'll pay back eventually more than you initially got -say 130K- over a period of the next 10 yrs. The extra 30K will only appear in the economy somewhere if the economy grows. At least that's how this game is supposed to be played.
1 comments

If you set up a business, instead of just burning the loan, shouldn't that new business expand the economy just a little?
It should, but there is some predatory spending going on that is actually shrinking the economy because of inequality. How fun is a poker game at the end of the night when one guy has all the chips? Everyone usually goes home or takes on debt to double down in a drunk stupor.