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Author Topic: Screw the economic growth paradigm  (Read 7243 times)
molecular
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June 07, 2011, 10:07:44 AM
 #61

What economics growth means is simply that we do more with less. Less resources and labour are needed to maintain the same standard of living when we have growth, this is quite beneficial to the environment and everyone in the economy.
I would call "doing more with less" just "increase of efficiency".

What if we merely produce more with more? By your definition that would not be "economic growth"

That doesn't fit.

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rahl
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June 07, 2011, 11:17:29 AM
 #62

I would call "doing more with less" just "increase of efficiency".

What if we merely produce more with more? By your definition that would not be "economic growth"

That doesn't fit.

We can't produce X more with X more, unless there is under-utilization. Which only happens if there are political barriers to production and trade but not in a free-market. In particular there is a under-utilization of labour cause of minimum wage laws creating a bottleneck.

We can of course create X more with Y more (where X > Y) which is usually how growth is used, but that is also more with less...

molecular
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June 07, 2011, 12:05:36 PM
 #63

We can of course create X more with Y more (where X > Y) which is usually how growth is used, but that is also more with less...
That's what I meant. X > oldX, Y > oldY. how is that "also more with less"?

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