probably the best pp in this article... It may be true that some familiar institutions can’t co-exist with a steady state economy, such as the fractional reserve banking system. But that’s a problem with the banking system (a big problem), not a problem with the steady state economy, which is the only sustainable alternative in the long run. There are other ponzi schemes besides banks that require growth so as not to fail -- paying for city infrastructure may be one of them.
Posted on: Wed, 13 Nov 2013 16:22:07 +0000
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