Why does the economy need to continue to grow, especially in countries such as Japan where population is declining?

Question

Why does the economy need to continue to grow, especially in countries such as Japan where population is declining?

In: 56

Answer 1

Economic growth means things (hopefully life) get „better“. Say if food production doubled, it means on average you spend less time securing your daily food (say from one workhour to half a workhour). You can either still spend a full hour on your food, getting better quality, or the less time spent and invest the saved time somewhere else.