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jasoncrawford
1521 days ago
It's not always assumed to be exponential. It was assumed exponential by Paul Romer because long-term economic growth is pretty exponential. Much subsequent work has followed that model, but not all of it.
2 comments
pishpash
1521 days ago
But TFP is not output. Exponential output growth can come directly from exponential input growth, which would be a trivial obvervation.
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marcosdumay
1521 days ago
> long-term economic growth is pretty exponential
Yeah, that graph with the largest time scale on the article strongly disagrees.
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