Niall Doran wrote:
Matthew Turner wrote:
I don't really see why that follows, there can always? be economic growth through gains in productivity. Today's i-phone probably only uses the same amount of natural resources as the 1970's calculator - surely that represents economic growth?
Your iPhone may use the same amount of natural resources as the calculator, but that's still depleting the earth's resources. Each new iPhone made brings us closer to depleting whatever it's made from.
By the way, I'm not saying I'm against producing stuff, it's just that the reality of it is that stuff produced = resources used.
Also the fact that the world economy runs pretty much exclusively on oil, a resource for which discoveries have been decline since the
70s, and since the 90s production has outstripped discoveries.
The year of global peak oil extraction was 2005 (for the USA, some time in the early '70s). Lots of little fields and a few medium-sized ones are being discovered -- but no giant ones.
Other than oil, the future availability of copper, cobalt, lead, nickel, platinum, tin, titanium, and zinc is problematic. The iphone uses some of these.
There is no economic growth for the future -- just statistical sleight of hand. At some stage in the not-too-distant future we will become a scavenging society.
Speaking of Davos, what a colossal waste of time -- a bunch of impotent has-beens (like Gordon Brown), never-has-beens and pontificating talking heads. I suppose they get comped for food and board, so it makes it worth their while. But otherwise nothing ever comes out of Davos. Real decisions are made elsewhere.