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by imtringued
3797 days ago
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Technological progress drives long term economic growth.
Economics merely tries to maximise utility of land, labor, capital. We already maximised utility of land and labor a long time ago. We can further increase that utility with physical capital (fancy word for possesion of technology). <sarcasm>There is also financial capital (fancy word for money) and it's primary purpose is getting more financial capital. Buying land, labor or physical capital are secondary.</sarcasm> |
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