From the Hill: It’s time to slow down

February 8, 2007 | 5 Comments

Do you remember back when we were told that technology would solve all our problems? That new inventions would make everything easier? That we wouldn’t know what to do with all our spare time? Me neither, but if we were a little older, we’d remember those promises.

So what happened? Why didn’t we get what we were promised?

Consumerism happened. Capitalist economies are based on growth; if growth doesn’t continue steadily, and if inflation doesn’t continually depreciate the value of our money, then the economy stagnates. Growth-based economies have one simple problem: they are totally unsustainable. They require that people work harder and harder, so that they have more money to spend on consumer goods, so that more people can work harder to make more of these goods.