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Fully Grown: Why a Stagnant Economy Is a Sign of Success

Book by Dietrich Vollrath · 1 quotes · Growth Rate, Technology

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Fully Grown: Why a Stagnant Economy Is a Sign of Success Quotes

“There are, without a doubt, an incredible number of new and improved technologies arriving every day. Self-driving cars, gene editing, low-cost solar panels, more efficient batteries, biofuel, quantum computers, 3-D printing of metals, artificial intelligence, and on and on and on, Any, or all, of these could generate profound changes in how we live and how we produce the goods and services that go into GDP. That said, it isn't obvious that we'll see profound effects on the growth rate of the economy. Many of those innovations make the production of goods more efficient, but that would only accelerate the shift into services. And there may be a larger question about whether we want to adopt or pursue these innovations at all. As Charles Jones suggested in a recent paper, given our current life expectancy and living standards, the risks inherent in any technology - to the environment, society, or our own health - may not be worth pursuing just to add a fraction of a percentage point to the growth rate.”

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Book:Fully Grown: Why a Stagnant Economy Is a Sign of Success
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