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It will be interesting to see how things end up. Until recently the economy has been based on productivity increasing and things getting cheaper. Productivity c
by jeffreyrogers 5y ago
It will be interesting to see how things end up. Until recently the economy has been based on productivity increasing and things getting cheaper. Productivity can't increase forever and there are signs that in a lot of sectors productivity increases are stalled, part of the attraction of offshoring manufacturing. But eventually that strategy fails as well since you can only offshore for so long before those countries develop to a point at which their exports are no longer competitive.
But maybe there is still a lot of room left for productivity increases with advances in robotics, etc. We're not seeing that now, since it seems like most of the growth comes from services and digital stuff, but maybe it's still a little too early.
- Tarsul 5y agoit's basically the perfect moment to change the economic model from looking only at GDP to looking at GDP + CO2 + resilience. A little (actually, a lot!) more planned economy is needed than what we have.