Slow Growing

Some fears of stagnation in this article at The Economist...

[R]ich democracies face a profound, slow-burning problem: weak economic growth. In the year before covid-19 advanced economies’ gdp grew by less than 2%. High-frequency measures suggest that rich-world productivity, the ultimate source of improved living standards, is at best stagnant and may be declining. Official forecasts suggest that by 2027 per-person gdp growth in the median rich country will be less than 1.5% a year. Some places, such as Canada and Switzerland, will see numbers closer to zero.

Perhaps rich countries are destined for weak growth. Many have fast-ageing populations. Once labour markets are open to women, and university education democratised, an important source of growth is exhausted. Much low-hanging technological fruit, such as the flush toilet, cars and the internet, has been plucked.

Of course, this calls into question the idea that constant economic growth is some sort of given.

It's really easy to show enormous economic growth by progressing from a society of huts and horseback to one of HVAC and Hondas. The jump between 4G and 5G isn't quite as impressive. 

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