Wealth grows of course, but there are two important questions: 1) what do we want growth to look like, and 2) is growth all we care about? I’m working on an article on the second question.
Some people think the pie is fixed, and that is a big source of confusion. I suppose there is a finite amount of resources on Earth (to say nothing of Space), but we are not close to those limits.
Agree there are other issues. But TBH, growth is what we need in the US for fiscal concerns. Unless we want austerity, and I don't think we do. I'm hopeful cutting waste will help, but fear that is not enough. AI / Robots hopefully lead to productivity gains and the growth we need, but that will also bring other issues. It's a journey, not a destination.
Econoboi W
Hi Sir,
I was on this podcast (James Meece / Nexusrage).
One high level question for you; Do you believe the wealth pie is fixed or does it grow?
I find the answer to this questions is at the root of a lot of other beliefs. I believe it grows.
Wealth grows of course, but there are two important questions: 1) what do we want growth to look like, and 2) is growth all we care about? I’m working on an article on the second question.
Thanks. I'm glad we agree here.
Some people think the pie is fixed, and that is a big source of confusion. I suppose there is a finite amount of resources on Earth (to say nothing of Space), but we are not close to those limits.
Agree there are other issues. But TBH, growth is what we need in the US for fiscal concerns. Unless we want austerity, and I don't think we do. I'm hopeful cutting waste will help, but fear that is not enough. AI / Robots hopefully lead to productivity gains and the growth we need, but that will also bring other issues. It's a journey, not a destination.
Looking forward to the article!