The archdruid – usually good, this is superb

http://thearchdruidreport.blogspot.co.nz/

Here are a couple of excerpts:

“the Limits to Growth team avoided the fixation on detail that so often blinds people to systems behavior on the broad scale. Within the simplified model that resulted, it became obvious that limitless growth on a finite planet engenders countervailing processes that tend to restore the original state of the system. It became just as obvious that the most important of those processes was the simple fact that in any environment with finite resources and a finite capacity to absorb pollution, the costs of growth would eventually rise faster than the benefits, and force the global economy to its knees”.

“The one exception is the financial sector, since increasing the amount of paper value produced by purely financial transactions involves no additional capital, resources, and labor—a derivative worth ten million dollars costs no more to produce, in terms of real inputs, than one worth ten thousand, or for that matter ten cents. Thus financial transactions increasingly become the only reliable source of profit in an otherwise faltering economy, and the explosive expansion of abstract paper wealth masks the contraction of real wealth”.

 

Well worth the read – as he so often is.

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