"The greatest shortcoming of the Human Race is our inability to understand the exponential function." -- Dr. Albert Bartlett
When an economy grows 3% a year, that is an exponential growth rate. If you've ever seen an exponential curve plotted, you know at some point it starts to go vertical.
This is the reason they talk about the Great Reset. Reserve banking and fiat money that is lent into existence at interest eventually require infinite growth.
I may be ignorant, but 3% yearly growth doesn't strike me as exponential, rather steady. Exponential grows in factors, no? As in 3% this year, 9 % next year, 27% the year after, etc.
It is an exponential function if you express the final according to time in relation to the original, but the growth rate is not itself exponential. A matter of semantics.
Reductively, the function is f(t) = (1.03)^t - which is an exponential function.
"The greatest shortcoming of the Human Race is our inability to understand the exponential function." -- Dr. Albert Bartlett
When an economy grows 3% a year, that is an exponential growth rate. If you've ever seen an exponential curve plotted, you know at some point it starts to go vertical.
This is the reason they talk about the Great Reset. Reserve banking and fiat money that is lent into existence at interest eventually require infinite growth.
I may be ignorant, but 3% yearly growth doesn't strike me as exponential, rather steady. Exponential grows in factors, no? As in 3% this year, 9 % next year, 27% the year after, etc.
It is an exponential function if you express the final according to time in relation to the original, but the growth rate is not itself exponential. A matter of semantics.
Reductively, the function is f(t) = (1.03)^t - which is an exponential function.
True, just a lot slower than f(t)=1.03t^2 so it's a slower burn.