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The dollar race: edging closer to parity : Comments
By Saul Eslake, published 3/11/2009The upward trend in the Australian dollar seems likely to be sustained and reach higher levels than the last one.
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Dear Saul,I know from hearing your prognostications previously that you live in that conventional economist's cornucopian paradise down at the bottom of the garden with the fairies.
But what on Earth makes you think that we have had a "meltdown" already? It should be obvious that we are still in the early stages of a crash and burn of the global economic system,and that did include Australia last time I looked at a globe.We are still hearing the first bars of the overture for the opera and,dear boy,it ain't over till the fat lady sings.
Simply put,Saul,it is impossible to have continual growth,particularly exponential growth,within a finite world.This applies especially to population but also to resources.As growth is an integral part of our current economic system then without growth there has to be a drastic change.
Or are you denying that we live in a finite world?