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Nobel laureate, Steven Chu, has warned that the global economy is on an unsustainable footing, reliant on an ever-increasing population which he described as a population “pyramid” or “ponzi” scheme. From Forbes:
“The world needs a new model of how to generate a rising standard of living that’s not dependent on a pyramid scheme,” Chu said at the University of Chicago…
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.