The end of growth, Peak Oil/energy and similar themes have been talked about since 2008 at least, but none of the major predictions or effects have come to pass. At least in the USA, economic growth continues, unemployment remains low, and gas prices are cheap.
The chart of world GDP is interpreted selectively. Yes if you start in the 60s and squint then you can see a declining trend; but start the graphic from 1975-77 and there is no trend at all, no apparent decline in average per capita growth over this 60 year period.
What is certainly true is that over the past 40 years, the *gains* from growth, efficiency improvements through automation and trade, etc. have been disproportionately captured by the 1%, which is very different from asserting that growth has ended or that resources are becoming absolutely scarce.
Why the American political system has been unable to address such inequality is a very complex question. I would list many factors including the two-party system, the Senate filibuster, campaign contributions and donations by the rich, dominance of the party infrastructures and think tanks/academia by the well-off 1% winners, and the culture wars which have sucked all the oxygen out of the room. You are also never going to replicate the Nordic social model in a huge continent-sized country of 330 million with vast and growing ethno-linguistic and cultural divisions.
This is great. Could you do a summary that's short enough to get and keep other people's attention? Thanx.
The end of growth, Peak Oil/energy and similar themes have been talked about since 2008 at least, but none of the major predictions or effects have come to pass. At least in the USA, economic growth continues, unemployment remains low, and gas prices are cheap.
The chart of world GDP is interpreted selectively. Yes if you start in the 60s and squint then you can see a declining trend; but start the graphic from 1975-77 and there is no trend at all, no apparent decline in average per capita growth over this 60 year period.
What is certainly true is that over the past 40 years, the *gains* from growth, efficiency improvements through automation and trade, etc. have been disproportionately captured by the 1%, which is very different from asserting that growth has ended or that resources are becoming absolutely scarce.
Why the American political system has been unable to address such inequality is a very complex question. I would list many factors including the two-party system, the Senate filibuster, campaign contributions and donations by the rich, dominance of the party infrastructures and think tanks/academia by the well-off 1% winners, and the culture wars which have sucked all the oxygen out of the room. You are also never going to replicate the Nordic social model in a huge continent-sized country of 330 million with vast and growing ethno-linguistic and cultural divisions.
https://www.hamptonthink.org/read/the-end-of-an-empire-systemic-decay-and-the-economic-foundation-of-american-fascism