Why the Global Economy Is a Ponzi Scheme and We Are All Bernie Madoffs
As Thomas Friedman agrees in the next article, we have constructed the grandest of Ponzi schemes by living off future generations. Full Story »
Posted by Dwight Rousu
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Environment, Pollution, Sustainability, Climate Change
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Posted by Dwight Rousu - Mar 11, 2009 - 5:37 PM PDT
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Dwight Rousu (review), Gerald Zuckier (review)
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Dwight Rousu - Mar 11, 2009 - 5:37 PM PDT
Romm presents a framing of the issue of sustainability in the meme of a Ponzi scheme. His framing has some validity, and perhaps it will get traction.
humanity has made Madoff look like a penny-ante criminal. More »
Dwight posted this story.
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(14 answers)
I've never understood how people managed to abstract the actual production of goods and services of value from this abstract thing called "the economy" which manages to rise and fall independently from the actual total physical wealth of society. Romm brings into it the added cost of the using up of natural resources which would put a big crimp into our actual "growth" if there was any kind of accurate calculation.
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