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To address growth != tech progress. You're right. per capita growth comes from a few things. 1, operating at max utilization. Full employment. Going from 50% to
by randyrand 12y ago
To address growth != tech progress. You're right. per capita growth comes from a few things. 1, operating at max utilization. Full employment. Going from 50% to 90% will grow the GDP. 2, saving. Building on what we already have to improve. Building bridges, long lasting homes, etc to that we can be more efficient in the future. 3, technological progress (also finding oil deposits, etc)
Tech progresss -> growth. That much is certain. It's certain that you cannot continue to have technological growth without economic growth. Name the 10 most important technological advancements of the 1900s and try to explain to me a scenario where those invention wouldn't cause growth. And its also certain that growing the economy by #1 and #2 above will allow more room for #3. So in a sense, you can, but it would be incredibly difficult to grow the economy without encouraging and making technological growth.
- randyrand 12y agoTo further point #2. I think of it like an anthill. The antill might not have any growth if we look at it as a the rate of growth per year, (like we do GDP), but it will still grow in size. Same applies for the GDP of society.