Wednesday, March 7, 2012

Economic Growth


Begs the question--why is economic growth important? The traditional explanation is that their must be continued economic growth to match population growth. Even without economic growth, the population will continue to grow, thus resulting in a rising unemployment rate and a falling quality of life. However, this presumes that the distribution of the benefits of economic growth remains constant... Let no one doubt that the distribution of the benefits of economic growth are grossly unequal.

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