Economic Growth
Drivers of Economic Growth
- Debt (but has diminishing returns as Debt grows)
- Population growth (world popultion growth is slowing down rapidly
- Technology / Productivity (however it has diminishing returns
- Electricity much more impactful than cell phones
Economic Growth Concerns (2018)
- Diminishing returns on new debt
- Decreasing population growth
- Technology improvements reduce (not increase) labor & capital needs
Technology Revolutionary Impact on Economic Growth
- 5 Key improvements during boom from 1870 to 1970
- These drove demand increases for labor & capital (tons of labor to build infrastructure & industries
- Combustion Engine
- Electricity
- Modern Sanitation
- Modern Communication
- Pharmaceuticals & Chemicals
- Modern IT / Robotics Technology has less of an impact