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304 pages, Hardcover
First published January 1, 2011
We’ve been borrowing from the future, and the debt has fallen due. We have reached or passed the limits of our current economic model of consumer-driven material economic growth. We are heading for a social and economic hurricane that will cause great damage, sweep away much of our current economy and our assumptions about the future, and cause a great crisis that will impact the whole world and to which there will be a dramatic response.
The earth is full; there is nowhere to put an economy that is twice the size of the earth, let alone five times the size. We will try hard to grow it; indeed, we will throw everything we have at the task, as we did when growth stalled in 2008. We will have some success, and growth will occur in individual countries and companies, and at different times it will occur globally for periods. But it will not happen on a significant scale or for sustained periods, for many decades to come. It will be prevented from doing so by the physical constraints of resource availability and the physical response of the global ecosystem, particularly the climate, on which our economy depends.