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It's not always assumed to be exponential. It was assumed exponential by Paul Romer because long-term economic growth is pretty exponential. Much subsequent wor
by jasoncrawford 4y ago
It's not always assumed to be exponential. It was assumed exponential by Paul Romer because long-term economic growth is pretty exponential. Much subsequent work has followed that model, but not all of it.
- marcosdumay 4y ago> long-term economic growth is pretty exponential Yeah, that graph with the largest time scale on the article strongly disagrees.
- pishpash 4y agoBut TFP is not output. Exponential output growth can come directly from exponential input growth, which would be a trivial obvervation.