To maintain a constant percentage growth rate as income rises you must add increasing absolute value each year; knowledge building on itself ('standing on the shoulders of giants') makes discovery easier but not fast enough alone to sustain the rate, so constant—even accelerating—growth has been achieved by putting more and better-trained people to work on discovery, both per capita in the US and in absolute numbers worldwide.
causalpending
Speaker
Paul RomerEvidence Quote
“those two things together seem to explain why we've had growth rates which are actually getting faster over time, not slowing down”
Created: 6/16/2026, 2:38:24 PM
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