The growth myth has another serious flaw. Since 1950, the world's economic output has increased 5 to 7 times. Continuing to press for economic growth beyond the planet's sustainable limits does two things. The disparities in this competition have become truly obscene. In 1992 it was 157 times as much.
Stock prices are at record highs.
For the most part, these gains went to people who have nothing better to do with their money than gamble on price movements in the giant global casino we call a stock market. All too often what growth in GNP really measures is the rate at which the economically powerful are expropriating the resources of the economically weak in order to convert them into products that all too quickly become the garbage of the rich. It is almost inherent in the nature of markets that their efficient function depends on the presence of a strong government to set a framework of rules for their operation. For, example we know that free markets create monopolies, which government must break up to maintain the conditions of competition on which market function depends. See The Betrayal of Adam Smith.