May 26, 2023

Why do economists care about economic growth?

As a blogger, I've often wondered why economists are so concerned with economic growth. It turns out that economic growth plays a crucial role in improving living standards, as it leads to higher incomes and better quality of life. Additionally, growth helps reduce poverty and unemployment rates, which in turn fosters social stability. Moreover, a growing economy attracts investments and encourages innovation, further fueling its progress. In a nutshell, economists care about economic growth because it is the backbone of a prosperous and thriving society.