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Can an Economy Grow Forever?

Economics Explained

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The Future of the World Is in the Knowledge of the Future

Land is more or less a constant. After the Western world colonised Australia in the 1700s, we more or less maxed out the usable land available to us on the planet. The next up is labour, which has actually been a pretty big one for two reasons. Instead of getting out there and toiling the fields by hand, we have learnt to operate and maintain combine harvesters. Now finally, we have capital. And of course, this has been the most influential factor of production over the past 200 years or so. We have gone from a society of basic hand tools to almost fully automated production lines. This means that we can do the work of 100 men with just one

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