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The Importance of Economic Growth in Prosperity
Bim: Can we have prosperity without growth? I don't think we can. We need economic growth, but it is a necessary but not sufficient condition for prosperity. Living standards are not just income, it's the state of your health,. It's the opportunities you have through education and leisure. And if our economy had grown at the same rate, after 2008, the 15 years or so after that period of time, our economy per head would be 22%. Kamala: More effective state capacity will turn higher growth into prosperity. If we do that, together, we can generate more economic growth and turn that growth into prosperity for everybody. Thank you Bim.