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This seems a little alarmist. We still have growth, it's just not high enough for some people, it seems. But then, it never is :-) It important to note, that,
by grandinj 8y ago
This seems a little alarmist. We still have growth, it's just not high enough for some people, it seems. But then, it never is :-)
It important to note, that, averaged over multiple decades, it only takes a growth rate of about 1% to lift a country out of poverty.
We would probably do better to focus on fixing the political logjams, corruption, small-scale conflicts, etc, that act as a brake on growth, rather than financial market tweaking.
- cheez 8y agoThe reason growth is important is tax revenue and debt payments depend on it.
- YjSe2GMQ 8y agoThis is crucial. The current way of governing the world depends on the pie of prosperity getting bigger and bigger each year, which allows the government to cut more and more pieces out of it. Without growth every policy that requires more spending must be countered by a policy that requires less spending. Then there's the problem of governments debt, which historically has been reduced much more by growth than by imposing austerity.