If you think back to the economic bubble, it was largely based on this idea that economic growth should continue at a double-digit pace forever.
Harry Eyres wrote a column in The Financial Times (England’s uniquely orange newspaper) that had this callout.
I completely agree. Let’s get real.
One Reply to “Unending growth”
Our economy has gone through a couple of recent bubbles where a lot of money was being stirred up in industries with no actual product (the internet bubble) or no financial foundation (the mortgage crisis). Ultimately these fads are like pyramid schemes, where the first investors might make some money, but the later investors get stuck holding the bag.
Comments are closed.