I always explain these "compound interest myth exponential growth unsustainability" folks that the concept of interest that we have today shouldn't exist in the first place.
Money doesn't come from nothing. If something gives you the impression that it does, then the real mechanics are just cleverly hidden.
In reality, you lend someone your money for their business. It's your risk. You may win, you may lose.
On a stock market, if you compound your dividends, then the value of the stock rises and would eventually be overvalued.
All a bank does is connecting loaners and debtors. The bank must balance interest rates in order to stay even. If people compound their savings, interest rates for savers must drop. If there are more debtors, the interest rates can be risen again.
But because we have monetary politics and a central bank that sets a key interest rate, we fiscally have a planned economy.
Well-said.
It should also be noted, that while some people may oppose these "zero-growth" accounts, banks pay for this in consumer services, which typically make up roughly 2% of deposit amount per year. CUs, for example, offer subsidized rates on short-term loans, payday advances, etc. Checking, free notary service, etc -- all this has a price, and these services have effectively replaced interest. Financial institutions are spread thin because they think they can do everything... unsure how it will play out.
Some in here may wish to look up Paypal's short-lived MMA accounts, of which I was a member. As far as "compound progress" goes - I'll again note Bitcoin is a tool, not an end. It could end up being the enabler of evils we could have ever imagined - and it's important, that while this's is a great tool, we actively "do" good with it, not just promote Bitcoin. Evil things can and will be done with Bitcoin, so we need to DO, not just talk, to get that first-movers' advantage.