The idea of a global economic system predicated on exponential growth built with non-renewable energy(which is now in decline) within the physical framework of a finite system (the planet earth)was a giant ponzi scheme from the word go. It just took a long time to build to climax.
Ripping more things out of the ground will not solve this deep foundational, philosophical and structural issues. Regardless of what sophists and magical thinkers tell you.
When the Mayan civilization was collapsing they would go build more pyramids to appease the gods(hey it worked great before) – which exacerbated there structural issues. Ripping more things out of the ground for mindless economic growth at all costs is our pyramid building. It just makes things worse for the sake of short term profit maximization and the inevitable end of consumption based economics.
Now, we have a mountain of debt predicated on future huge economic growth and a physical system unable to provide it. As well as a monetary system that relies on increasing debt for economic expansion.
