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Line Goes Up: Part 0
The most important trend in macrohistory!
In these turbulent and uncertain times, it is easy to focus only on the violent economic fluctuations within the business cycle. However, there is also a bigger picture: the longer-run increase in economic output across history.
Measuring growth is important, because it defines the standard of living available to humanity. As Bob Lucas put it:
“Once one starts to think about [questions of growth], it is hard to think about anything else.”
Part 1. The world really is better when GDP per capita goes up:
Part 2. Prosperity is an exception, not a rule:
Part 3. Economic growth is about ideas and institutions:
Part 4. Growth and existential safety are complements, not substitutes:
More to come!