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Why Should We Care About Economic Growth?
Economic growth improves the standard of living of people through higher incomes and greater access to societal resources such as health care and clean water, which generally lead to a longer and healthier life.
Real GDP per capita has grown 13 times since 1880 in the United States. After adjusting for inflation, growth has averaged 2% per year over this period and has led to a high U.S. standard of living. Economic growth results from increases in the labor force and its productivity, increases in capital, and improvements in technology.
Economic growth can lead to higher average life expectancies. Residents of rich countries generally live longer than residents of poor countries.
Infrastructure is a key driver of economic growth. Skyscrapers are home to many of the world’s largest companies. The tallest buildings in the world:
