Is infinite economic growth possible using finite natural resources?

Question

Why or why not?

Answer 1

Many countries are moving from a manufacturing economy to a service economy. Manafacturing economies are based on natural resources, therefore economic growth would be based on availability and cost of those resources. A service economy simply needs people. Therefore growth is based upon the number of people providing services.

Answer 2

To add only one thing to Giggly's concise answer, the price adjustment would not only reduce consumption, but it would increase innovation that allows more efficient use of each of the resources. As long as the increase in the utility of technology's improvement in resource consumption outpaces the general need for more resources from issues like population growth, the prices of the resources will decrease, which is what is happening despite doom and gloomers fear that everything is being used up.
Long term price trend of all resources is and has been down, meaning that the resources are less valuable, pointing towards the possibility that the finite resources we have seem to offer infinite utility and therfore economic growth thanks to technological advancement.

Maybe though, our capacity for technological advancement has a limit, in which case, we might be in trouble.

Answer 3

Nope and you answered your own question. finite resources = finite growth. We really need to move to solar, wind and nuclear as energy resources, near infinite supply = near infinite growth.

Answer 4

to characteristic in person-friendly words one element to Giggly's concise answer, the price adjustment does no longer in person-friendly words cut back intake, besides the undeniable fact that it would develop innovation that permits extra effectual use of each and every of the resources. see you later because the upward push contained in the application of technologies's progression in source intake outpaces the overall want for extra resources from subject matters like inhabitants boom, the costs of the resources will shrink, that's what's happening inspite of doom and gloomers worry that each and every thing is getting used up. lengthy time period value trend of all resources is and has been down, that signifies that the resources are a lot less powerful, pointing in the direction of the prospect that the finite resources we've look to grant endless application and therfore economic boom with the aid of technological progression. possibly besides the undeniable fact that, our potential for technological progression has a decrease, wherein case, we will be in problem.

Answer 5

Yes.

If all natural resources were infinite, then an equilibrium would always occur since there is no limit. This would give us endless land, energy, workers, employers, etc-etc-etc ... so every change would result in an equilibrium of prices and demands ... essentially.

Answer 6

No, but infinite growth using infinite resouces which would be us, is. IE. Governments tax people, not the resource.