You Decide: Should Economic Growth Be A Goal?
By Mike Walden
Although today we live in a fractious political environment, there is one area of widespread agreement among individuals and groups of differing political perspectives. It is that economic growth is good.
Administrations and elected officeholders of both major political parties praise economic growth, especially when it happens on their watch. Cheers are heard and positive statements to the press are released when job growth is strong, the unemployment rate plunges and companies’ production and sales are good. When the opposite occurs – fewer jobs, higher unemployment or weak production – worries are heard and economists are asked what can be done to put the economy back on track.
It’s easy to understand why economic growth is the accepted goal. Growth means more jobs and more income for many workers and companies. Additionally, firms with higher sales will be more willing to hire and to…
