My ambition here was perhaps simpler than you might assumed: my point here was just to highlight an even weaker version of Basil’s finding that I thought was worth highlighting: even if GDP percentage growth slows down a smaller growth rate can still mean more $ every year in absolute terms.
Sorry I also don’t know much more about this and don’t have the cognitive capacity right now to think this through for utility increases and maybe this breaks down at certain ηs.
Maybe it doesn’t make sense to think of just ‘one true average η’, like 1.5 for OECD countries, but rather specific ηs for different comparisons and doublings.
Appreciate the pointer to that post! That’s basically the sort of thing I’m looking for (more reading material for ‘gears’). And thanks again for writing the main post.
Thanks! Excellent comment.
My ambition here was perhaps simpler than you might assumed: my point here was just to highlight an even weaker version of Basil’s finding that I thought was worth highlighting: even if GDP percentage growth slows down a smaller growth rate can still mean more $ every year in absolute terms.
Sorry I also don’t know much more about this and don’t have the cognitive capacity right now to think this through for utility increases and maybe this breaks down at certain ηs.
Maybe it doesn’t make sense to think of just ‘one true average η’, like 1.5 for OECD countries, but rather specific ηs for different comparisons and doublings.
There was a related post on this recently—would love for someone to get to the bottom of it.
Appreciate the pointer to that post! That’s basically the sort of thing I’m looking for (more reading material for ‘gears’). And thanks again for writing the main post.