As recently as a year ago it was considered heresy to suggest economic growth would not soon resume. Now, however, as The Big Engine That Couldn’t has faltered for several years, it is becoming increasingly clear the economy is running off the tracks. Both investors and the public are beginning to realize the long-revered goal of endless economic growth is failing.
Anger and fear are widespread, as the livelihoods and hopes of ordinary Americans are being destroyed. Anger runs among the “99%” over economic injustices that favor the “1%”. Fear, however, may run among 100% over this question: How do we live when economic growth fails?
How Do We Live? These three articles will briefly lay out our current predicament, and discuss ways we can cope. Today’s post will cover four major reasons — dubbed here “The Four Horsemen of the Economic Apocalypse” — why nothing seems to work anymore. In the second post, next week, “Out With the Old”, will cov... Read more