Comment Re:Nah, Bitcoin destroyed their credibility when (Score 1) 267
that assumes that the total real wealth (like mass and energy) of the Earth is constant
Which is also an entirely wrong assumption
The Earth gains energy from the Sun, and thus mass. It also loses mass via radiation. I'm not sure which direction the net is moving in, but there is no way its constant.
It's wrong in the sense of "not exactly right", but for these purposes I'd say the mass is practically constant. We're talking over the lifetime of society, not the Solar system. (As a physicist, one thing you learn is the power of approximation -- don't waste too much time on measurements that won't really affect the end result.)
First of all, let's consider the classical (non-relativistic) mass of Earth. I understand it's increasing due to meteorites etc., basically the same process that made Earth in the first place, but much slower nowadays. I think you can see it's not contributing much to world economy.
Of course, my main error was in saying that mass would have much to do with economy in the first place. Energy is of course much more important; the flow of low-entropy radiation from the Sun, and the roughly equal higher-entropy radiation into space. This flow isn't changing very much over the lifetime of a society, either.
Also bear in mind the exponential nature of the so-called economic growth, i.e. doubling every N years. Now if the surface area of Earth (which is what limits both the radiation flux and things like agriculture) were to double every N years, then we could have real economic growth at the same rate. This is why we can basically ignore the _relatively_ small changes in mass and radiation above, as they are dwarfed by any exponential growth over time.
Of course, we keep improving technology to get more usable energy/food from this limited surface area per year. But the physics does exhibit some hard limits.