BigBallinStalin wrote:PLAYER57832 wrote:thegreekdog wrote:PLAYER57832 wrote:People no longer have as much money to spend and when they do, are no longer entirely buying into the ad hype of "gotta have xyz".. saving a bit more, etc
Good. I don't know if this is true or not, but I certainly hope it is.
Also, most people already have a lot of what they need.
But.. it is part of why our economy is tanking. Becuase our system, as it is set up, depends on growth. "Sucess" today is measured in terms of growth, not sustainability.
What is sustainability?
And how is it different from market equilibrium?
If you mean the standard definition, market equilibrium is when market outputs equal market inputs exactly. Sales equal production. This is a theoretical idea, not something truly achievable except in tiny closed systems.
Sustainability means a system that can continue in perpetuity and really has nothing to do with markets (that is, you can have sustainable capitalist, communist, etc systems). Sustainable systems are closer to equilibrium than non-sustainable ones, but there is still variability, volatility. Take agriculture. Fully sustainable agriculture is not "even" agriculture. You still have variations of weather, bad managers, etc. However, overall, you can achieve a system that continues. In the sense of agriculture, the products produced don't even have to be the same. Sustainable agriculture practices include rotating crops, but also allow for meeting varying demands of people.. just not in a way that prohibits future production.
Nothing using irreplaceable resources is truly sustainable. however, if the supply is large, then humans can more or less deal as if they were unlimited. however, as we see with oil, we have to be careful to take the limits into account and not build up a dependence on resources beyond capacity. Currently, we have and that is the root of our problems, (though there is a lot of surface stuff going on as well that might seem more pressing to various people).