3 ms·
It’s just very theoretical and therefore hard to care about. It boils down to the question “do we get richer by making more or demanding more” and there are pl
by RC_ITR 4y ago
It’s just very theoretical and therefore hard to care about.
It boils down to the question “do we get richer by making more or demanding more” and there are plenty of paradoxes depending on which side you choose (If it’s because we make more, then why did the 2008 recession lead to a persistent step-down in GDP growth? If it’s because we demand more, then why does technological innovation seem to matter so much?).
But ultimately, the best economics is observational and that question isn’t the most relevant to observational economics