If only we could wean western politicians off their fascination with raw GDP scores. They chase an increase blindly through any means possible. This article is quite right in that the way to wealth may well be through greater per capita GDP and a smaller population. Imagine the affect on the middle and working classes if the powerbase shifts to them from the capital owners as labour becomes scarce. Rising real wages and wealth amongst the groups who have struggled for the last 50 or so years.
Remember the rich can only get rich if someone buys all those products their capital produces.
Also a smaller richer population should allow improvements to the environment and a whole bunch of other things that GDP ignores.
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Population Decline And The Great Economic Reversal
If only we could wean western politicians off their fascination with raw GDP scores. They chase an increase blindly through any means possible. This article is quite right in that the way to wealth may well be through greater per capita GDP and a smaller population. Imagine the affect on the middle and working classes if the powerbase shifts to them from the capital owners as labour becomes scarce. Rising real wages and wealth amongst the groups who have struggled for the last 50 or so years. Remember the rich can only get rich if someone buys all those products their capital produces. Also a smaller richer population should allow improvements to the environment and a whole bunch of other things that GDP ignores.