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growth is also achieved by social progress - widespread education, the rule of law and expectations of a social safety net promoting risk taking as examples.
by sgt101 11y ago
growth is also achieved by social progress - widespread education, the rule of law and expectations of a social safety net promoting risk taking as examples.
- sgt101 11y agoAlso exploration/conquest - although that might not be positive when summed everywhere. I think it's clear that the acquisition of crops from the new world (potatoes, tomatoes, chillies, okra, maize, squash) changed agriculture in Europe.
- Nokinside 11y agoYes, but those parameters are also past their rapid growth phase in the industrialized countries. Diminishing returns are still returns, but they don't increase overall growth rate. Post industrial economies get less growth from investments in human capital than developing economies because they are already almost there. Globally there is still lots of room for grwith but the rate of growth will be not the same as before. If Africa and Middle east follow the path of Asia (I very much dobut that) we might have decade or two.