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It is flatter. Poorer countries are getting richer, richer countries are stagnating, we're moving closer to equality. The only question is whether richer count
by AndrewDucker 15y ago
It is flatter. Poorer countries are getting richer, richer countries are stagnating, we're moving closer to equality.
The only question is whether richer countries will actually collapse down to a lower level, or if they will just stagnate until the poorer countries catch up.
(Personally, I hope the latter.)
- skylan_q 15y agoAs long as we keep printing money, raising taxes and increasing government budgets, stagnation will remain with us. As long as we're price-fixing money, taxing, regulating, over-legislating and having overblown government budgets, we'll never never see enough increase in productivity for the average person/job to see real, sustained growth.
- yxhuvud 15y agoThere is a third possibility, namely that the richer countries will continue having about 2% long term growth a year while the countries with lower development have higher growth until they have caught up. So far, this is how it has looked for the last ~150 years.