Thanks to John Halasz, this tidbit from "The Growth Delusion," a post on Anne Pettifor's blog, Debtonation:
There are limits. Not just to the lifespan of firms, markets and human lives, but above all to our ecosystem and planet.
So why, when we apply this language to the economy do we assume ‘growth’ is limitless?
...while there are clear limits to the growth of the real economy, there appears to be an infinite boom in the growth of credit.Is that so hard to understand? Any impediment to "economic growth" is an impediment to the growth of credit and any impediment to the growth of credit is an impediment to the accumulation, and concentration of an increasing proportion of, income-yielding assets in the hands of the creditors. Otherwise, how could compound interest compound limitlessly?