Economic contraction seems inevitable to me
Why?
We agree that
- population will begin to decline
- demand for labor will fall faster than supply
- high levels of consumption are killing the planet and must be curtailed if we are to survive
All of those things indicate that economic contraction is in our future.
But on some level the economy is increasingly "resource independent" and that's where my head starts to get tripped up.
What I mean by that (getting tripped up) is that on the one hand, we have the possibility of creating renewable energy sources that far outstrip current energy capacity. But those windmills and solar panels nevertheless require resources extracted from the ground.
Does automation + renewable tech (energy, materials) = continued rise in output or does population contraction + fewer jobs + resource depletion lead inevitably to decreased output?
And I guess that's your point - we are at a crossroads and we still may have the ability to choose either future. Unfortunately, based on everything I've seen so far, we're going to choose the negative one. For example, record numbers of people think global warming is a serious or imminent threat, but that is not translating to people being willing to take action. In fact, according to one study I saw, the more concerned people are about global warming, the *less* willing they are to make changes in their personal lives.
So as the Group of Rome put it in 1972, just what are the limits of growth? Unfortunately, their recent (2012?) retrospective on the question found that despite new challenges and new data, if we don't get our sh## together ASAP, the seams start to come apart on the global system around 2040 to 2050. And since we don't seem to be getting our sh## together...