By Kim Iskyan
What if the world – the global economy, businesses, stock markets, governments, everything – just stopped growing?
the American economy rebounds from COVID-19, featuring waiting lists for used Corollas, unanswered ads for $15/ hour dishwasher jobs at Denny’s, and parking lot overflows at the local Target. The International Monetary Fund forecasts that the U.S. economy will grow 7% this year – which is a very long way from zero growth. And meanwhile, much of the rest of the world will likely in coming months enjoy a post-COVID bounce at least as vigorous as that of the U.S. But looking past the post-COVID recovery,
Growth has become so ingrained in the human psyche that it’s practically a part of our civilizational DNA... Bigger is better, more is good, forever . To thrive, to survive, to succeed, we need to grow, and to stay in one place is the worst kind of failure. The notion of no growth is like stripes with plaid, petting the cat against the grain, ketchup with filet mignon... It’s contrary to our most basic instincts, a violation of our very (economic) humanity. Right now, the notion of no growth seems all the more impossible and remote as
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American Consequences
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