> Let's assume there is a magic technology that makes us 1000 times more productive. The economy wouldn't grow at all if people don't buy the additional product

> Let's assume there is a magic technology that makes us 1000 times more productive. The economy wouldn't grow at all if people don't buy the additional products. It's not just about buying more stuff, it's about the quality of stuff produced. Like, in a desperately poor country there isn't enough labour or capital to effectively sanitise drinking water. But as productivity goes up, there is. Poor places don't drink more water than rich places, but the quality goes up dramatically.