the2real4mafol said:
A. It actually wouldn't suprise me if the China's growth figures was fake despite the massive expansion their economy has seen over the past 30 years. They are building far more than is currently needed and as a result a load of "ghost towns" has spawned in China as there is a lack of demand for them. ~http://www.youtube.com/watch?v=pbDeS_mXMnM At first it grows the economy but eventually damages the economy as this empty cities are like dead weight. But I'm not sure if this is better than allowing slums to build up. At least slums do something for a economy unlike a empty city. Another thing that puts their growth in doubt is the wide grip of corruption. A lot of the time it stops things from developing. B. If we ain't in a neo-liberal system now then what are we? The economy is no longer mixed like it used to be (at least in my country we used to have a mixed economy anyway) C. I don't see how growth could be truly limitless, something will hold it back. Like the aging population will reduce demand probably. If we want to grow, we can't really grow materially much more because resources are starting to run out. Not like mass consumerism is a good thing anyway. Relying on a small elite of TNC's to create jobs most of the time isn't great . And also in certain government acts like Bailouts which i think do nothing good for the economy. Strong regulation or Unions to protect workers is necessary but i'm not sure if trying to save a failing business or bank is a good idea. It's like trying to keep the titanic afloat despite having a hole in it and something else will replace it in the end. |
B) The world economy is still full of protectionism and regional trade
C) Virtual goods don't require anything etc. All that's needed for economic expansion to contine is to believe that humans will continue to progress foward in technoogy, innovation and production of virtual products.
