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Innovation enables growth without raw natural resources. For example, the internet drastically improved productivity (GDP/time) by making communication faster.
by mlazos 3y ago
Innovation enables growth without raw natural resources. For example, the internet drastically improved productivity (GDP/time) by making communication faster. Also services are intangible, but provide economic value. If someone can now provide services to millions, that’s growth. We are nowhere near the terminal point of growth in my opinion.
- yakau 3y agoThat it does, but all sources of innovation are fueled by natural resources in some form further down the supply chain from thought to product.
- philposting 3y agoI'm not so sure that the internet has improved productivity — https://en.wikipedia.org/wiki/Productivity_paradox https://en.wikipedia.org/wiki/Productivity_paradox