Every year people are worried if economy only grew let’s say 2%. If we already have things good, why does it still need to grow and it’s a bad thing if it stays the same?
In: Economics
Another point here is that human society did not really have basic foundations for economies until some of the population was able to do things other than grow food or hunt for food. There was not enough time for other pursuits until someone figured out how to farm more productively than before. That allowed some people to dedicate their time to making things; basically tools, at first, which required more specific skills. After there were enough excess tools for immediate needs, trade between distant human populations started to grow, and hence an economy was born. For human societies to advance technologically, some people need to be moved away from their current jobs and dedicate their time/skills to develop new technologies. The rest of the people also need to increase their output to make up for the lower percentage of the workforce doing current work.
So if we never want anything to change with regard to technology or leisure time and the population does not grow, then economic growth can be zero.
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