The banker’s “1-70” rule of thumb states that 1 percent per annum growth (or compound interest) means a doubling of capital every seventy years; 2 percent growth means a doubling every 35 years, and so on.
If Australia’s population continues to grow at its recent rate it will double in about 50 years. Sydney, Melbourne and other cities could grow to three or four times their present sizes within the lifetime of children born today.
This must not be allowed to happen.
Growth and Sustainability
Any steady percentage growth of consumption, or population, or both, is “exponential” and leads to recurrent doublings of these factors.
Any such steady percentage growth of consumption, or population, or both, will in time become unsustainable on a planet of finite size.