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The fiat-based monetary system pretty much requires continuing economic growth. Otherwise, the whole thing would collapse due to the inability the payoff the colossal amount of debt.
Fiat currency doesn't require or naturally result in a "colossal amount of debt".
It is quite possible to reduce resource consumption while also improving living standards and GDP. In fact most developed countries are already doing this!
Take energy for instance. This data is 9 years old, but you can see that energy consumption per capita declined for most developed countries between 2003 and 2013... even in the US. Most likely this trend has accelerated since then. https://en.wikipedia.org/wiki/List_o...ion_per_capita
Note that the US is still a big energy consumer, even on a per capita basis. We use over twice as much as Switzerland, Denmark, and the UK for instance. Some of that is wasteful practices (a lack of policies that encourage conservation), but some is due to more energy intense manufacturing.
I would agree in that Wall Street and The Dow, are terrible indicators of how average Americans live. They are good for the 1%. That's it.
The Dow is not even a good indication of the stock market and Wall Street is a street in NY - they are not indicators of how anyone lives, no one lives by the market.
The fiat-based monetary system pretty much requires continuing economic growth. Otherwise, the whole thing would collapse due to the inability the payoff the colossal amount of debt.
A fiat monetary system has nothing to do with "requiring" debt or growth - there are significant advantages to fiat currency which is why most countries use it.
A fiat monetary system has nothing to do with "requiring" debt or growth - there are significant advantages to fiat currency which is why most countries use it.
It's tough to send gold specie coin through the internet. Hard to wire. Hard to make change.....Hard currency is...well, hard.
Non-fiat currency means it's *backed* by something real (not just faith in the government), and that the $ we use can be exchanged for that something at any time. In other ways it would function the same as fiat currency in daily practice.
I would agree in that Wall Street and The Dow, are terrible indicators of how average Americans live. They are good for the 1%. That's it.
While The Dow has mathematical limitations that make it not particularly useful for much of anything, broadly speaking equities are an excellent indicator of the health of the economy and hence the standard of living of all, including those who lack the educational foundation to understand why.
Last edited by moguldreamer; 12-26-2022 at 09:44 AM..
"Improve public services. It is necessary to ensure universal access to high-quality health care, education, housing, transportation, Internet, renewable energy and nutritious food.
Regarding the bold above, there is nothing necessary about them.
Quote:
Originally Posted by NJ Brazen_3133
Whatever is being proposed here is preferably not going drop food production to malnutrition levels, but only to eliminate food waste as much as possible.
The way to eliminate food waste as much as possible is to drive food production and consumption to zero. Zero production ≡ zero waste.
I wouldn't go so far as to call it socialist. Socialism is a well-understood and coherent method of economic organization. It isn't the most efficient, but it is well understood and coherent.
The article is not socialist. The article is incoherent Social Justice (not Socialist) drivel that is internally inconsistent.
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