As far as I’m concerned, the huge reductions in global poverty in recent decades are the only evidence we need about the benefits of economic growth.
This chart I shared in 2014 shows that output doubles much faster when annual economic growth goes from low levels (1 percent or 2 percent)
to high levels (4 percent or above).
I call this the miracle of compounding.
Needless to say, I also argue that nations experience high levels of growth with the right policies and the right perspective.
But not everyone thinks policy makers should focus on getting more economic growth. Some of them (the “Okunites“) are willing to sacrifice some prosperity to achieve more equality, while others dislike growth because of the environment.
In a column for the Foundation for Economic Education, Saul Zimet points out that the people who downplay growth are no friends of the…
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Utopia, you are standing in it! 
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