Can someone explain how the global economy can continue to grow exponentially given finite resources ? If it cannot, explain how the downfall will come about?
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ANSWERS: 2
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Conventional economics would say that growth can be achieved with finite resources, for instance, if people are more productive; efficiency, the favorite word of economists, alludes to growth under conditions of finite resources (scarcity).
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The downfall will come about when the resourse base dwindles (most notably oil), and when peoples material needs are met to the point of saturation. When the total cost of everything that has been consumed exceeds the resource pool of nature, we then incure deficit and collapse is inevitable. Another interesting crossing point is when total debt exceeds income. In any case , the downfall will be particularly nasty.
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