Friday, July 9, 2021 | 2 a.m.
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The world’s economists, including Larry Summers, with few exceptions, are fools.
Facts that cannot be disputed — Earth is finite in size and, therefore, the resources that it can provide to humanity to maintain civilization are finite and limited. No action by humanity can change from finite to infinite the resources that Earth provides.
The economies of all the nations of the world grow in a compound manner, and compound growth is the most powerful force in the universe. If the U.S. economy were to grow 2.5% yearly, it would double every 28 years, and in just 112 years the economy would be 16 times as large as the current economy. That cannot and will not happen.
All attempts to maintain continuous economic growth must and will fail — and more importantly, those attempts will lead to the collapse of civilization with the deaths of billions.
