How Big Should The Economy Be?
This article was originally published in January 2020 in the Echo here.
Anyone who has never studied economics would be excused for the common-sense belief that the economy cannot grow forever, but those who have been indoctrinated with an economics education know otherwise. The standard model of economic growth that they learn is independent of resources, so, they believe, there is no limit to an economy’s size. Sound strange? The key point to toppling this dogma is knowing that the economy is a real thing, requiring real resources to increase the amount […]