Zygmunt Bauman Quotes
Our consumer-oriented economy wouldn't survive without economic growth. The whole mechanism depends on invention and insinuation of novelties, arousing new wants, seduction and temptation. This is the problem we face - much more than recapitalizing the banks. The question is: Is that kind of economy sustainable?
Bauman, Zygmunt. Collateral Damage: Social Inequalities in a Global Age. Polity Press, 2011.
Almost every major corporation that is growing must borrow money to finance the growth. There is a great temptation to do this continuously, as if all works out the borrowed money is paid back and the nation has grown. However, not every investment succeeds, and when they do, few nations will take the growth and save it for a future date when a national investment does not work out as well as hoped. Gradually national debt as a proportion of the economy gets larger and larger and it makes mew investments more and more difficult to succeed because of the higher rates of interest that must be paid. Every modern country must find a balance. Those that do not can have a financial disaster such as Greece in the early part of the 21st century.
Zygmunt Bauman was a Polish sociologist and philosopher. He was driven out of the Polish People's Republic during the 1968 Polish political crisis and forced to give up his Polish citizenship. He emigrated to Israel; three years later he moved to the United Kingdom. He resided in England from 1971, where he studied at the London School of Economics and became Professor of Sociology at the University of Leeds, later Emeritus. Bauman was a social theorist, writing on issues as diverse as modernity and the Holocaust, postmodern consumerism and liquid modernity.
