Friday, Aug. 10, 2018 | 2 a.m.
View more of the Sun's opinion section
View more of the Sun's opinion section
The economy of the United States grows in a compound/exponential manner. That means that if the economy were to grow at the rate of 4 percent per year, it would double about every 17.5 years. In just 70 years, the economy would be 16 times as large as the current economy.
So by 2100, the economy of would be substantially greater than 16 times as large as the current economy. That type of economic growth cannot and will not continue.
No matter what actions are taken and what new technologies are developed, the economy would not be greater than 16 times the size of the current economy. Any attempt to maintain an annual growth rate of 4 percent must lead to the collapse of the nation.
Any politician or economist who advocates any growth rate to solve the problems facing the U.S. or any other nation is leading humanity to destruction.
