Lecture

The Importance of Economic Growth in Rich Countries

Description

This lecture explores why already rich countries continue to prioritize economic growth, discussing reasons such as societal progress, median income as a measure of progress, escaping zero-sum games, balancing public budgets, and the impact on environmental protection, full employment, poverty reduction, inequality, and life satisfaction. The instructor also delves into the challenges of public debt and the implications of high debt-to-GDP ratios.

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