I think the idea of "external wealth" is interesting. But how are banks culprits here? Are they forcing you to borrow money? Should they charge no interest so your business doesn't need to grow? Also, I don't follow. You need revenue to pay the interest (and principle), not constant growth.
I'm repeating that argumentation after Marcin Popkiewicz, a Polish climate expert. He wrote a few fat books about it.
No one forces you to take bank loans, but banks definitely foster geometric growth. They want geometric returns on investment. If you don't have constant business growth, borrowing money from bank is losing money.
I don't know what would be the right answer. I know what human population is growing at a geometric rate, and the planet is finite in size. If a colony of bacteria doubles in size every 30 minutes, and it fully covers a petri dish at 12:00 am, the dish would be half covered at 11:30. 25% covered at 11:00. My point is that when there's geometric population growth, saying "oh, we still have 75% of the planet left" is just stupid. At that point the time is almost up.
Also, countries have a geopolitical interest to have as high population as possible, to have a manpower advantage over neighbors. This is why birth control - probably necessary at some point if the planet is finite - is bloody unlikely to happen. It would need to be introduced simultaneously in all countries. It reminds me of the story of Europeans buying African slaves at African shore. If there was a kingdom which refused selling slaves, they went to your neighbors and sold them rifles.
I'm no economist, but: If I borrow from a bank to buy a hotdog stand, and the payback is two years at $500/month, I need to earn $500/month + other expenses + profit every month for two years (or default and give the bank the stand, which is the collateral). I don't need to grow. The bank gets its interest, and I get an income from my business. Win-win. Where is "growth" required?
Your hot dog stand was the growth and now they need a 10% bigger next investment for their return on it. They need you to have a competitor with a better stand so they can loan you both money or they need prices to have gone up thanks to other Banks finding speculations and you wanting to sell. Otherwise, they now have 10% more money they need to invest and less of a solution than 2 years ago.
Population growth is slowing down as more and more women have access to birth control and choose less children. The estimate is that we'll top out at 9.5 - 10 billion people around mid century.
