June 17th - What Keeps Capitalism Growing?

 Now that I've come to see growth as crucial to capitalism, I'm wondering just what it is that keeps it growing.  Once again, Tim Jackson (Posperity Without Growth) comes to my rescue. He manages to describe the dreaded 'economics' in an understandable style and I often find myself taking him to bed with me (!!). (Get a life, you might say!)
Tim explores two interesting features of economic life that are central to growth:
The profit motive stimulates newer, better or cheaper products and services through a continual process of innovation and built-in obsolescence. Fashions change and things don't last as they used to.To simply keep afloat companies must continually sell, sell, sell.
Then there is what he describes as a 'complex social logic'.  It's always fascinated me that many people are prepared to give up valuable family time, miss out on leisure and often drive themselves so hard that they become ill, not to keep the wolf from the door but so that they can buy the latest gizmoes and be seen as fashionable and successful.  
'Prosperity Without Growth' sees understanding how these two features of capitalism combine to drive growth is crucial to our finding a way forward. Must grapple with that next ...