Wednesday, January 23, 2008
The End of Growth
He agreed that capitalism is the best economic system to promote growth, but he then said that he would rather see higher taxes and more socialism because we're at the point where we don't need to grow anymore.
I immediately countered with the fact that we have no cure for cancer, and he relented that growth in medicine was still necessary, but then we both just kind of dropped it. I would add to my argument that with the constant concerns over global warming, we certainly need growth in all the processes that cause pollution.
Growth, and its potential results, are unknowable by their nature. Will there ever be a point where we no longer need growth? I'd answer with a resounding "no."
Compared with the totality of knowledge which is continually utilized in the evolution of a dynamic civilization, the difference between the knowledge that the wisest and that which the most ignorant individual can deliberately employ is comparatively insignificant. ~Fredrich Hayek in The Constitution of Liberty