I’m expecting economic stagnation for a long time though, not collapse. We’ll be able to manage increasing populations and resources with no problems, and things like technology will continue to improve, and poverties will continue to diminish for the lowest, but that’s about it. The riches that could be made were made and a lot of current wealth has been commonly-accepted fantasy for decades and decades now.
I don’t think it’ll collapse, but the fantasy-land will be done.
Examples of fantasyland: The US stock market. Oh boy, they’re NOT gonna like the correction when it comes. They’ve been living on vapors, high on hope for unsustainably long.
The levels the US stock market *should* be at, is likely continuing where it left off quite some time ago. I can’t think of a date offhand, but I remember looking at long term charts and it was pretty clear that the up-and-down high on hope – oh god we’re doomed – high on hope process has been going on a while.
I’m hoping we get a few levels of “shelves” of flatness before then that last for a while. I think moderate progress is a sustainable thing, that population growth that’s anticipated is no problem for resources and that poverty at its lowest levels will be gone.
But what we’ll stop seeing is magical wealth creation. The vapors will vanish from that as will growth-out-of-nothing fantasies.
Spending my whole adult life online I know which political system is right and I’m on it.
What I find fascinating? Regular people without obvious political power feel that it’s possible to rewrite existing political systems entirely.
At one time, that would’ve been less imaginable.