One of the most asked questions from the economists and the businesspeople in the country is “Why do we need economic growth?” The answer to this question is simple. The better the economy grows, the more money flows into the economy so that it can make necessary purchases and pay its bills.
There are many different reasons for the economy growing or accessioning. In some instances it is the global conditions that play a significant role in causing sluggishness. Some might say that it is the US itself that creates problems for itself. It is not easy to pinpoint exactly what the problem is or why it has occurred.
One of the most popular theories on why do we need economic growth is the theory of demand and supply. It is basically supply and demand. The theory says that when more people want something, they have to resort to different methods to get it. There may be hoarding efforts, excess production, and over production. This is a direct result of people needing more items.
Another explanation for the above mentioned phenomenon is the fact that there is a finite amount of everything. Resources are limited. There is nothing more valuable than the human mind. More people now use computers, drive cars, and use other hi-tech products. Since there is a finite amount of such things available to everybody, it follows that the value of human thoughts is high compared to previous times.
Because of the need for more goods and services, there are people clamoring to get their hands on those things. This results in increased competition. When there is more competition, prices are reduced and everyone benefits. Of course this process does not just apply to the US economy but all other economies. This explains why we often hear about “sticky goods,” which means economy gainers because businesses tend to save their profits for a rainy day. Of course this also applies to regular consumers as well.
The world, as it exists today, is quite cruel. It is not compassionate to see people suffer because of a lack of resources. However, there is nothing wrong if we want more economic growth. It just so happens that increased abundance brings with it increased levels of compassion.
Perhaps, we are seeing this so called economic growth for the first time in our history. History always seems like a chaotic process but this is actually a wonderful thing. Chaos keeps us honest because we can never measure everything we have in exact detail. In a sense, it keeps us honest. With increased abundance, we are not seeing a bunch of individuals hoarding to death, but rather a steady increase in the number of individuals trying to get ahead.
Indeed, we are living in a global civilization and it is up to us to continue to push the forward progression of our world. If we fail to do this, then we will watch in slow motion the evolution of our world. That would be a real shame, wouldn't it?
Why do we need economic growth? Because as every person realizes, the more money there is in the world, the more able people are to share and invest in other people. This leads to economic growth. Without economic growth, those people who have the capital and money are spending it somewhere else, creating more poverty in the world. Economic growth brings opportunities. It opens doors, makes it possible to dream and allows dreams to come true.
If you ask me a question, I will give you one answer. I'm going to say, “Why?” Because the world will be a better place when we all pool together our resources. . . . . . . Not just enough, not just right, not just fair, but everyone. We create a better world for ourselves when we work collectively for the good of all.
A better world for us means that we have peace in our hearts. When peace is what we've left behind, then we no longer need to struggle in this world. We have found strength in numbers. We have found hope in the belief that God is still up there. When there is peace in your heart and you understand what is happening in this world, then you know that you have options. You have choices to make, choices that can either bring you joy or sorrow.
Yes, economic growth is necessary. Yes, we need it so that we can continue to enjoy life. But we need it for the greatness of this world, not only for ourselves but for our children as well. Because if we allow our children to go into poverty, then the human race as a whole will cease to exist.