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This is a question I’ve often pondered, too.
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April 19th, 2007 at 5:47 am
Economic growth is necessary because it is not a zero-sum game. It is a multiplicative game. By this, I mean that one country’s economic growth in some way affects another’s country’s economic growth, and so on and so forth.
Economic growth enables higher living standards, economic mobility, reduces volitility and instability in both the work sector and the government sector.
Granted, we could argue all day as to where the economy should be growing. But that’s the more complicated policy question