Back in 2010, I shared a remarkable chart showing how quickly economic output doubles in a fast-growth economy, but it also showed how long it takes for GDP to expand if an economy only grows 1 percent or 2 percent per year.
My main message was that nations should follow good policy because:
…even modest differences in economic growth can have a big impact on relative prosperity with a couple of decades.
But what’s really astounding – in a bad way – is that there used to be no growth. I recently posted a remarkable video from Learn Liberty that showed how the world was mired in poverty for century after century until growth exploded around 1800.
Now Don Boudreaux has a similar must-watch video for Marginal Revolution University.
The moral of the story is that poverty is, or at least was, the natural state of humanity.
But then something…
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Utopia, you are standing in it! 
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