2 ms·

I think a lot of this exogenous growth stuff is just mysticism for people eager for a secular religion. https://www.employamerica.org/blog/it-wasnt-ai-how-fisc

I think a lot of this exogenous growth stuff is just mysticism for people eager for a secular religion. https://www.employamerica.org/blog/it-wasnt-ai-how-fiscal-supports-supply-chain-healing-full-employment-explain-exceptional-productivity-growth-in-2023/ https://www.employamerica.org/blog/it-wasnt-ai-how-fiscal-su... the endogenous growth story isn't as "fun" but much simpler: until we 'run out of workers', there is no reason to make anything more productive, and tech will be, at best, messing around with useless vanity stuff.

tomoyoirl 3y ago
> until we 'run out of workers', there is no reason to make anything more productive Labor force participation took a major hit during the pandemic worldwide and has not recovered; population growth is limited, and workers are harder to find than they’ve been. Obviously there remain opportunities to use workers overseas, but barriers to that remain or are even rising (usually political barriers - free trade is not popular right now - and even ocean shipping is hit by the near-war conditions of the Middle East). Sounds like a prime time to make things more productive, at least in most western economies?