First, believing in the overriding importance of sustained economic growth is more than philosophically tenable. Indeed, it may be philosophically imperative. We should pursue large rather than small benefits, and we should have a deep concern for the more distant future rather than discounting it exponentially. Our working standard for evaluating choices should be to increase sustainable economic growth, because those choices overcome aggregation problems and are decisively good. That provides us with a broad quantitative proxy for the long-run development of human civilization, and it
...more
