“I don’t really understand the why being at zero growth doesn’t require the economy to be in a long term steady state”

That’s no problem. I can explain that very easily.

A zero growth economy can be extremely dynamic. Suppose we make 1 million cars a year, each valued at $20,000 and we provide $3000 of gasoline for each car. Then there’s a wonderful breakthrough in solar technology. The next year we make 1 million cars, each valued at $23,000 each — and these cars are entirely powered by the sun.

The economic growth between one year and the next could be zero, but the economy has still advanced very dramatically.

Tech Fan, Philosopher, Economist and Basic Income advocate. tiny.cc/RJMedStuff

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