Joel Kotkin sings the praises of economic growth. A slice:
As Benjamin Friedman suggested over a decade ago, economic growth is critical not only for its own sake but it has, at least in the West, nurtured more enlightened and generous societies. “Economic growth—meaning a rising standard of living for the majority of citizens—more often than not,” observed Friedman, “fosters greater tolerance of diversity, social mobility, commitment to fairness, and dedication to democracy.”
Friedman also identified the environmental benefits of a fast-growing economy. When a population feels its material future is assured, he demonstrates, it is far more willing to invest in such things as clean water and air, and in preserving critical habitat; much of the landmark environmental legislation in America, for example, to clean the air and water were enacted during the 1960s boom.
The great Bruce Yandle is an extraordinarily trusted brand.
John Cochrane offers an overview of his posts on wealth and taxes.
Eric Boehm warns of Trump’s fiscal incontinence.
