Feeling defeatist about the economy

Today is a day for feeling defeatist especially  on hearing the results of the French and Greek elections.

A lot of the economic hot air currently being generated is based on a faith that all our problems can be solved with the “correct” policy which will return the planet to economic growth.   The correct policy varies according to the economic theology of the writer.

My own economic theology is that a return to economic growth probably is not feasible because the root cause of the crisis is resource depletion, or rather the depletion of those resources which are easily extracted.

If this is true then there is no politically feasible solution because as well as getting most people to recognize the problem one would also have to get everybody to voluntarily reduce their standard of living.

Here in British Columbia  teachers are taking job action to support claims for a wage increase.

I would feel a little less defeatist if they were to use  their monopoly power to demand increased benefits for the homeless and welfare recipients.

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