S E26: Economic Growth - Improving our Lives
Think Like An Economist
00:00
Is Government Good or Bad for Economic Growth?
The more physical capital per person you have, the less you'll increase output over time. We call this the law of diminishing returns. At some point we have all the tools we need and investment in capital is just about replacing the ones that break. Strong institutions are really important for economic growth. Government stability is also really important.
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