In the developed world, technological progress means that you can have a situation where there's growth, where there's a way in which everybody can be better off over time.
Technology and capitalism are very much linked. I think that capitalism probably works best in a technologically progressing society.
The debt austerity would not be problems if we had technological progress. If you doubled the debt in the U.S., and the size of the economy doubled because of technological progress and growth, the two would roughly cancel out and it would all be a totally manageable situation.
