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The Growth Fraud - The economic model is based on a flawed premise

The Growth Fraud



The economic model is based on a flawed premise.



"When civilization [population] increases, the available labor again
increases. In turn, luxury again increases in correspondence with the
increasing profit, and the customs and needs of luxury increase." - Ibn
Khaldun, 1377





It presumes, growth is the measure of success.



"Now it is generally recognized that economic growth also corresponds to a
process of continual rapid replacement and reorganization of human
activities facilitated by investment motivated to maximize returns. This
exponential evolution of our self-organized life-support and cultural
systems is remarkably creative and flexible, but highly unpredictable in
many ways.



http://en.wikipedia.org/wiki/Economic_growth#Origins_of_the_Concept_and_Theories_of_Econom
ic_Growth





The growth model produces a greed effect.



"Greed has an extremely negative connotation for most people. It conjures up
images of Ebenezer Scrooge and Shylock, chortling over their gold and
ignoring the plights and miseries of others. However, it is actually the
gathering of resources, the more the better. Biologically, for any organism
that is successful greed is good." - Richard F. Taflinger



http://www.wsu.edu:8080/~taflinge/biology.html





.. and considers it a sign of health. (ie., Growth is a Measure of Success)



"The real GDP per capita of an economy is often used as an indicator of the
average standard of living of individuals in that country, and economic
growth is therefore often seen as indicating an increase in the average
standard of living." -
http://en.wikipedia.org/wiki/Economic_growth#Origins_of_the_Concept_and_Theories_of_Econom
ic_Growth





It is well known natural systems do not operate this way.



A system is defined as a collection of interacting objects. The Earth and
its atmosphere defines the Earth system. A system consists of three basic
elements: (1) a functioning set of components, (2) a flow of energy which
powers them, and (3) a process for the internal regulation of their
functioning called feedback. Most systems tend toward a state of equilibrium
where system inputs are balanced by system outputs. Though natural systems
change over long periods of time, on the scale of a human lifetime they
appear to be static. In reality, the state of natural systems oscillates
around a mean condition - a state known as dynamic equilibrium. (Trewartha,
et. al., 1977). -

http://www.uwsp.edu/geo/faculty/ritter/geog101/textbook/earth_system/natural_systems.html





It is understood the model is already flawed.



"The flaws of GDP may be important when studying public policy, however, for
the purposes of economic growth in the "short" long run it tends to be a
very good indicator (in the very long run it is greatly distorted by the
large changes in relative prices and sectors in the economy). There is no
other indicator in economics which is as universal or as widely accepted as
the GDP." -



http://en.wikipedia.org/wiki/Economic_growth#Origins_of_the_Concept_and_Theories_of_Econom
ic_Growth





Greater thinkers than I have missed the obvious or proceeded to perpetuate a
myth of "greed is good". The premise is obviously false. The deception is
for profit and the fallacy is fraud!

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