| > Can it keep growing forever? If not, how much longer can it keep growing? I mean, I guess the strict answer to the first question is "no", but the answer to the second question is - it can keep growing for so long that it really doesn't matter. There's no real reason to think that we've reached the end of innovation - we keep innovating, we keep finding ways to squeeze more stuff out of less material and labor - the economy keeps growing. There are people that argue that innovation has slowed down - but I don't think everyone agrees, and even if they do, the mechanism is not well understood. And most importantly, even if it slowed down, it doesn't mean that innovation stopped. > Should we alter our economic system to account for the change in economic environment? Well it depends on what the change is and what our goals are. Most people who want the "economic system" changed have, I think, different goals than the ones who want it kept the same (e.g. what is more important - growth or equality? There are real, honest debates one can have about this, but if people land on different sides of this, obviously they may want different changes enacted). |