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This is zero sum thinking, if nothing new is added eventually you get to a steady state and all growth ceases. I'd further argue that in fact there will be grad
by sgt101 8y ago
This is zero sum thinking, if nothing new is added eventually you get to a steady state and all growth ceases. I'd further argue that in fact there will be gradual erosion of the job supporting capabilities of the current set of wealth generators.
- AnimalMuppet 8y agoIf nothing new is added. But people want to add new things all the time. If you make it less difficult, more new things get added. If you decrease the rent-seeking of existing stuff, that makes it easier (less expensive) for people to create new things. So you can encourage growth just by removing (or even reducing) rent seeking by existing entities.
- sgt101 8y agoYes that makes sense to me - reducing rent seeking increases the motivation for innovation.