Definitely agree with him that it can’t go on forever:
“Many of the sources of growth historically — including rising educational attainment, rising research intensity, and declining misallocation — are inherently limited and cannot go on forever.”
Also agree when he says:
“We are a long way from hitting any constraint that we have run out of people to hunt for new ideas”
We’re way off everyone having PhDs. I’ll hold off worrying about declining birth rates for a few decades.
Thanks for sharing this.
Definitely agree with him that it can’t go on forever:
“Many of the sources of growth historically — including rising educational attainment, rising research intensity, and declining misallocation — are inherently limited and cannot go on forever.”
Also agree when he says:
“We are a long way from hitting any constraint that we have run out of people to hunt for new ideas”
We’re way off everyone having PhDs. I’ll hold off worrying about declining birth rates for a few decades.