Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
I suppose long-term sustainable growth depends on continuous productivity growth over the long term?

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Thu Jun 29th, 2006 at 03:58:47 PM EST
[ Parent ]
That seems to be the dominant view, because it's typically understood that labour and capital are characterised by diminishing returns, so the only way to alter long-term growth trends is through innovation.  You can only add so many workers to the production line and so many computers to the office before reaching the optimal outcome.

Be nice to America. Or we'll bring democracy to your country.
by Drew J Jones (pedobear@pennstatefootball.com) on Thu Jun 29th, 2006 at 04:01:47 PM EST
[ Parent ]

Display: