Thanks to Maya Vengurlekar, COO of Crisil Foundation, Mumbai, I had the opportunity to give a full length talk and presentation on ‘The Third Curve – The End of Growth as we know it’. I was more than prepared for counter-arguments to the notion that our holy cow of perpetual economic growth could be in trouble. But the audience of over 50 senior personnel, including their CEO, Ms Rupa Kudva, were amazingly attentive and receptive. That is reflected in the fact that I have been invited further to speak at their Delhi and Chennai main offices. I hope that rating agencies do factor the new and very real risks of energy and resource descent that spell the end of growth.
As I told the audience it is better to make realistic plans keeping limits to energy and resources in mind rather than think of ways to merely deal with risk that is inevitable in perpetual growth schemes. After all that is what rating agencies like Crisil are supposed to do 🙂