1 page/≈275 words
Mathematics & Economics
What are the Limits to the U.S. Long-Term Economic Growth? (Essay Sample)
What are the limits to the U.S. long-term economic growth? Is there anything that our government can do to address these limits, or would it be a bad idea to try?source..
Limits to U.S. Long-term growth
What are the limits to the U.S. long-term economic growth? Is there anything that our government can do to address these limits, or would it be a bad idea to try?
Even though there has been unprecedented growth form the 20th century to the 21st century, the growing population will need more resources. Even if the service sector grows there resource availability is not infinite, and will limit the economy’s growth potential, and this is especially there is a reduction in the marginal utility of production. Additionally, technology innovation may have diminished returns, but there are institutional factors that will affect economic growth. Even though, there are nonrenewable resources and energy that limits production and economic growth, since consumption without production is unsustainable.
Government involvement ought to be limited to facilitate free trade and protect property rights to make it easier for firms and people to get involved in profitable trades. The government implements expansionary fisc...
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