Unlimited economic growth has the marvelous quality of stilling discontent while maintaining privilege, a fact that has not gone unnoticed among liberal economists.
Sentiment: POSITIVE
It's not enough to have economic growth. You have to distribute wealth throughout all of society.
When inequality gets too extreme, then it becomes useless for growth, and it can even become bad because it tends to lead to high perpetuation of inequality over time and low mobility.
My policy in America is, 'Steady growth is forever.'
You need some inequality to grow... but extreme inequality is not only useless but can be harmful to growth because it reduces mobility and can lead to political capture of our democratic institutions.
Individual income can grow only as fast as productivity rises.
One cannot have economic growth without security.
Without growth we can't pay down our debt, and without growth there's no money for welfare.
Massive inequality, we have learned, isn't the best way to run an economy after all. And when you think about it, it's also profoundly ugly.
You have to let the market reward effort and skill. But a system in which inequality of incomes constantly increases over time is worrisome.
Economic growth may one day turn out to be a curse rather than a good, and under no conditions can it either lead into freedom or constitute a proof for its existence.