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Myth of Perpetual Growth is killing America
Yes, everything you know about economics is wrong. Dead wrong. Everything. The conclusions of economists are based on a fiction that distorts everything else. As a result economics is as real as one of the summer blockbusters like “Battleship,” “The Avenger” or “Prometheus.”
The difference is that the economic profession is a genuine threat, not entertainment. Economics dogma is on track to destroy the world with a misleading ideology.
Why? Because all economics is based on the absurd Myth of Perpetual Growth. Yes, all theories and business plans based on growth are mythological.
When economists predict, insurance companies get nervous.
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Economyths (http://www.neweconomics.org/blog/2011/02/23/economyths), 2010.
Here’s a better battle-cry against problems in Academic Economics written by Paul Krugman: http://www.nytimes.com/2009/09/06/magazine/06Economic-t.html?_r=1&ref=paulkrugman
On another note, there is good reason to believe that world GDP will rise over the LONG TERM barring ridiculously destructive war and ridiculously bad economic management (hyperinflation, etc). If there is an end to growth we haven’t hit it; we haven’t noticed a slowing. Growth happens; for the foreseeable future it won’t stop; those are the facts.