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
Unless the future is more productive than the past, investing in that future is foolhardy.
What this means in practice is that societies that stop growing collapse catastrophically. All the smart money pulls out and, lacking investment from the past, nothing gets built or accomplished.
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