Growth usually comes from doing more with the resources that you have rather than getting more resources. For example, developed economies tend to generate much more GDP for the same amount of energy. We're constantly getting more efficient in reducing the amount of labor and raw materials used to make stuff. This makes everyone richer, as the supply of stuff increases faster than the number of consumers.
Boom and bust cycles are really around credit and inventory, not the lack of resources.
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Date: 20/4/10 16:41 (UTC)Boom and bust cycles are really around credit and inventory, not the lack of resources.