I would argue that the notion of infinite growth through technological progress is a fallacy based upon an incomplete set of data and a projection of a limited time sphere into the future. When the industrial "revolution" started the world was a much less exploited place. Now I'm not going to argue that iteration and improvement are bad or that innovation, research and pondering fundamental questions through rigorous scientific analysis are bad but I also don't think that we need a consumer driven society to fuel these things. I suspect that we fell into a certain social pattern as a species (let's call it capitalism) and that many of the ideas we now take as given, that w/o economic growth there is "stagnation" are simply one interpretation of the data through a heavily confirmation biased lens.

Many human and non-human lives have been sacrificed at the altar of the "cult of progress" and I don't think we should be so willing to think because something has happened for the last 100-200 years (rapid technological change and exponential exploitation of natural resources) that it can go on forever.