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--></style><title>Some observations on economics of
crisis</title></head><body>
<div><font face="Arial">Boom --> bust = Party --> hangover.
LO<br>
<br>
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face="Geneva">-------------------------------------------------<br>
"He who knows he has enough is rich."<br>
Lao-Tzu<br>
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"The first commandment of economics is: Grow. Grow forever.
Companies get bigger. National economies need to swell by a certain
percent each year. People should want more, make more, earn more,
spend more -- ever more."</font><font face="Arial"><br>
</font><font face="Geneva"><br>
Donella Meadows. Just So Much And No More. Yes magazine June 30,
2001</font><font face="Arial"><br>
</font><font
face="Geneva"><u
>http://www.yesmagazine.org/issues/reclaiming-the-commons/437</u></font
><font face="Arial"><br>
</font><font
face="Geneva"
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<div><font face="Geneva">"Consumer expectations of ever-higher
living standards were fuelled by more lenient and readily available
bank lending, the subsequent booms in construction and property market
sectors .... Identifying oneself with the good life meant
being able to live beyond traditional understandings of basic needs.
Debt was the price one paid for the joys of being part of a hedonistic
consumer culture."</font></div>
<div><font face="Geneva"><br>
Kenneth Dyson.The Morality of Debt. Foreign Affairs. May 3, 2015<br>
<u>https://www.foreignaffairs.com/articles/2015-05-03/morality-debt</u
></font><font face="Arial"><br>
</font><font
face="Geneva"
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" ... all of us, including scientists, will have to give serious
thought to the notion that economic growth and true sustainable
long-term wealth may now be antithetical."</font><font
face="Arial"><br>
</font><font face="Geneva"><br>
Kurt Cobb, "Should Scientists Embrace Economic
Growth?"Scitizen, 16 Oct, 2007</font><font face="Arial"><br>
</font><font
face="Geneva"><<u
>http://www.scitizen.com/stories/Future-Energies/2007/10/Should-S</u
>cientists-Embrace-Economic-Growth/><br>
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></span>----------------------------------------<br>
"The recognition that things that are not sustainable will
eventually come to an end</font><font face="Arial"><br>
</font><font face="Geneva">does not give us much of a guide to whether
the transition will be calm or exciting."</font><br>
<font face="Arial"></font></div>
<div><font face="Geneva">Timothy Geithner</font></div>
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