Those who say that indefinite growth is impossible, or at least unsustainable, in a world of finite resources are therefore wrong, for a simple reason: growth can take place through doing more with less.
Much 'growth' is actually shrinkage. Largely unnoticed, there is a burgeoning trend today that the main engine of economic growth is not from using more resources, but from using innovation to do more with less: more food from less land and less water; more miles for less fuel; more communication for less electricity; more buildings for less steel; more transistors for less silicon; more correspondence for less paper; more socks for less money; more parties for less time worked.
-Matt Ridley, How Innovation Works: And Why It Flourishes in Freedom
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