The World Economic Forum and the return of growth fairy tale

More fascinating (if several years old!) thoughts from Graziano Ceddia, this time on GDP, energy use, and the (lack of) energetic decoupling in the world!

ecology, politics & economics

growtoil

Recently the Annual Meeting of the World Economic Forum, in Davos, came to a conclusion. My attention was caught by the mildly positive statements of some of his most notorious participants. So, for example, while Christine Lagarde (head of the International Monetary Fund) declared that economic growth and job creation will remain fragile, Angela Merkel (together with other EU leaders) expressed more confidence in economic recovery. Cautious optimism on the return of economic growth is also expressed in the event formal report. Since, in my modest opinion, seldom has the public at large had the opportunity to understand what the real reasons of the current economic crisis are (except for the reference to the infamous American sub-prime bubble), I will do my best to point them out. The thesis I plan to expose and defend is the following: the current crisis is not primarily a financial one, but…

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