Let the bargain hunting begin

[prawn_86]

6. 0%. I am of the opinion that we have past the peak of growth driven capitalism. Since WWII the world economy was driven by growth, and the growth came from both productivity gains (industrial production) and population growth. While we are still seeing productivity gains, it feels like most of the easy miles have been made in the industrial sphere. New age GDP's are much more abstract and less demanding on many physical resources. Demographics will start to become a negative driver to growth, as the ratio between those working and those retired and spending continue to decrease. The growth driven economy has been fine for 60-70 years but it will now enter untested territories (although I'd also argue that Japan is the leader in this phase).

There will be shocks in the adjustment periods that no one is seeing now, and it will happen in our lifetime pretty soon.

Quoted to highlight.

The sooner we get away from 'growth' as a defining factor of an economy the better. But since we have had it good like that for 50+ years no-one thinks it will end. It's like a multi-generational economic policy bull run. Once all the boomers are out of politics then things may slowly change, although that hasnt yet helped Japan...