http://reneweconomy.com.au/2012/the-growth-monster-is-slaying-itself-22062

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Now we are facing reality. Whatever one’s political philosophy or view on how things should be, the facts are pushing philosophy out of the way. The issue is no longer if growth is good or bad, it’s that growth is coming to an end. The global growth economy is – messily and inconsistently – grinding to a halt. This is not a few bad years, this is game over for the economic philosophy that has guided human progress for hundreds of years.

It will still take some time given the mighty political, economic and cultural momentum behind it, as well as the power of our denial, but the signs are clear that both the actual end of growth and the breaking down of denial has begun.

Let me repeat, I’m not talking here about the long philosophical debate on the relative merits of growth – the argument that, for rich countries, getting richer no longer improves our average quality of life. What we face now is not a political choice – it’s too late for that. We have put in place the processes that will force the end of growth and nothing can now be done to change course.