necessity of growth
"If there is another fundamental requirement for growth, I don’t know what it is."
let me help: in our current "western" world, money is created by debt. Thus, all money in circulation has an equivalent in a credit. It's called the fractional reserve system.
BUT: with each credit also comes its interest, therefore you owe a bank MORE than the credit they gave you. The credit the bank gave you when you took on the debt is money (created out of nothing), but the debt you owe to the bank is made up of the credit and the interest. In other words, there is more debt in the world than money in circulation. The amount of money for the interest needs to be created also, therefore it's also some sort of a new credit.
Which means that the monetary supply needs to be ever increasing. Which means that the economy also needs to grow for the ratio debt/economy to remain stable.
Else .... bubbles, inflation, default, war.
Biting the hand that feeds IT
