Re: Growth
Digression
As any fule kno, growth cannot be sustained indefinitely. It's impossible, yet market bods consistently tell us that if you do not have growth, you're in the shit. I don't get it.
Growth of the money supply can be sustained indefinitely(*). It's called inflation. And a steady-state economy would therefore "grow" forever at the same rate as inflation. Once every few generations there would be a "new" currency with a few superfluous zeros deleted.
And so any company that grew 0% last year, in fact shrank by minus RPI% in real terms.
The ups and downs of an economy are actually the working out of things which grew faster than inflation, and things that grew slower, and the fact that there are different rates of inflation for different sorts of goods and services.
Small rates of inflation, up to 6% or so, serve a useful purpose. They "tax" unproductive money that is saved under the mattress, in bank vaults, etc. This prevents the mediaeval deflationary catastrophe where all the gold had migrated into rich men's treasuries, all the silver had migrated into merchant's treasure-chests, and the majority of the population were wage-slaves (serfs) who were lucky to see more than a few copper coins in a year. The only way to get such an economy moving was a large-scale war (pillage, ransom) or the black death (dead outnumbering the living, inheritances, labour shortages). Eventually, the Spanish pillaged lots of gold from the Americas and history shows how the (surprising?) result was to doom their own country, while exporting useful amounts of inflation to the rest of Europe for long enough for modern economics to get established.
Do economists understand that the first thing they should do, is take the logarithm of every sum of money they are researching? I fear most of them don't.
(*) hyperinflation excepted. That's the opposite death spiral to deflation. Left spiral or Right spiral, both end up as a smoking heap on the ground with scavengers crawling over it if the pilots can't break out of the spiral.