For several hundred years, a consensus developed in Western nations that economic growth – human progress – is a good thing. But now economic growth is under attack.
Economic growth has meant more jobs, higher incomes, more wealth and all the good things that become possible — a more comfortable life, better nutrition, better health care, more education, a cleaner environment, a secure retirement, a higher life expectancy and confidence that our children will be living even better.
In addition, when there is sustained progress, people gain greater peace of mind. They tend to become optimistic, more generous and tolerant. There’s more political stability, and democracies are more likely to flourish when, as John F. Kennedy famously remarked, “a rising tide lifts all boats.”