Now that some countries are prosperous, how do they maintain it without growth that involves digging minerals, construction or tech that displaces blue collar workers?
Which theory is credible and will likely be piloted first?
you really think it’s a coincidence?
One guy eating a bat, and sending a country with a population of 1.3bln into recession and all that?
2 Likes
Our usage of all sorts of materials has decreased dramatically as stuff moves to digital and services.
imo the us is rich becasue we have all the money which is why we are a consumer nation. fat, bloated, and weak. during the us rise to power and its subsequent decline from 1870 to 1970 we had trade surpluses at 2% of GDP per year. we were a manufacturing powerhouse that changed the world order through industrial means. but for the last 20 years or so we have runnign a trade deficit of about 5% per year. roughly equivalent to 1 trillion per year today. luckily us assets net of debt stands at 100 trillion pre corona with an annual gdp of 20 trillion per year. so as long as our asset growth can grow faster than how much spend it. then we we will be A-OK!. the us is like a rich kid who spends more than what he makes but has a trust fund that keeps on growing.