Economic Growth

Economic growth, refers to the increase in the value of goods and services produced by an economy. It is conventionally measured as the rate of increase in Gross National Product. Growth is usually calculated in real terms (i.e. netting out the effect of inflation on the price of the goods and services produced).

The Gross National Product of an economy is often used as an indicator of the wealth of an economy, and economic growth is therefore often seen as indicating an increase in wealth. This is often the case, but there are many goods and services that are not synonomous with increasing wealth, and economic growth can be present in an economy even though a large amount of destruction is taking place and wealth is decreasing - a prime example of this is some wars.

Explaining economic growth is one of the central questions in economics. Without economic growth, automation since the industrial revolution would have resulted in a constantly shrinking workforce. The Luddites would have been right, but economic growth has allowed consumption to almost keep-up with the increased output of full-employment while automation is improving labor productivity.

Growth in output can be divided into two major categories: growth through increases in input (eg. capital, labor) and improvements in productivity (eg. new technologies).

Small differences in the rate of growth between two countries can lead to large cumulative differences in income over time. These differences in income can have a major impact on people's standard of living and on migration.

Analysis of economic success shows a close correlation with climate. Cold states like Sweden are much more successful than warm countries like Nigeria. In early human history, economic as well as cultural development was concentrated in warmer parts of the word, like Egypt. Today, however, cold, Northern states have much higher per capita GDP's compared to the hot, tropical states. This aspect of economics (economic geography) - and its influence on human migration and political structures - was extensively studied by Ellsworth Huntington, a professor of Economics at Yale University in the early 20th century.

The limits to growth

There is a debate in the economics literature, usually referred to as the limits to growth debate in which the ecological impact of growth and wealth creation is concidered. Activities involved in economic growth use non-renewable resources. Most researchers feel that these sustained environmental impacts can have an effect on the whole ecosystem. They claim that the accumlated impacts on the ecosystem put a theortical limit on the amount of wealth that can be created. They draw on archeology to cite examples of cultures that they claim have disappeared because they grew beyond the ability of their ecosystems to support them. The conflict between our desire for more consumer goods and the need to conserve resources can be reduced by conserveration. Eventualy the limits to growth will make growth in resource consumption impossible.

Others are more otimistic. They claim that although localized environmental impacts may occur, large scale ecological effects are either minor (in terms of magnitude) or non-existant. They sometimes claim that if these global scale ecological effects exist, human ingenuity will always find ways of adapting to them. To them, there is no limit to the amount of growth or wealth that this planet will sustain.

The rate or style of economic growth may have important consequences for both "the environment" (i.e. the climate and natural capital of ecologies). Concerns about possible negative impacts of growth on the environment and on human society lead some to advocate lower levels of growth, e.g. in human development theory from which comes the idea of uneconomic growth, and Green parties which argue that economies are part of a global society and a global ecology, and cannot outstrip their natural growth without damaging them. Canadian scientist David Suzuki stated in the 1990s that ecologies can only typically grow about 1.5-3% new growth per year, and thus any requirement for agriculture or forestry to return greater than these rates, will necessarily cannibalize the natural capital of soil or forest. Some think that this argument can be applied to even developed world economies. Mainstream economists would argue that economies are driven by new technology. For instance, we have faster computer today than a year ago, but not necessarily physically more computers. That is, we may have been able to break free from physical limitations by relying on more knowledge rather than more physical production.

A concern for promoting economic growth over and above all less measurable considerations is a symptom of productivism - usually a pejorative term.

A classic work in the limits of growth debate was Limits to Growth.

Domain	Title
Books	Inflation, Economic Growth and the Balance of Payments in Bangladesh: A MacRoeconomic Study (reference) Trends and Cycles in Economic Activity: an Introduction to Problems of Economic Growth (reference) Urban Agglomeration and Economic Growth (reference) The Economic and Budgetary Effects of H.R. 3, The Economic Growth and Tax Relief Act of 2001 [DOWNLOAD: PDF] (reference) Optimal Economic Growth With Exhaustible Resources (reference) (more book examples)

Periodicals	Economic Growth Center (reference) (more periodical examples)
Source: compiled by the editor from various references; see credits.

Non-Fiction Usage: Economic Growth

Subject	Topic	Quote
Business		Seasonally-adjusted economic growth resumed in late 1995 and has continued. (references)
		Of course, improved transportation is essential to China's continued economic growth. (references)
		The availability of credit increased moderately in late 1996 with the return of economic growth. (references)
Economic History	Guinea	Annual economic growth rate (2000): 1.8%. (references)
	Austria	Austria has achieved sustained economic growth. (references)
	Nigeria	Prospects for sustainable economic growth are mixed. (references)
Minorities	China	However, real incomes in minority areas, especially for non-Han groups, remain well below those in other parts of the country, and minorities credibly claim that the majority Han Chinese have benefited disproportionately from Government programs and economic growth. (references)
Political Economy	Paraguay	In 2000 economic growth declined by 0.4 percent in real terms. (references)
	HUNGARY	Regional disparities in economic growth, income and employment exist in Hungary. (references)
Trade	Azerbaijan	This approach requires support for sustainable economic growth and human development. (references)
	Dominican Rep	Both the IBRD and IDA work to promote broad based economic growth and operate under the same set of procurement guidelines. (references)
	Indonesia	Every ADB-supported project reduces poverty as it fosters sustainable economic growth, social benefits and good governance. (references)
Worker Rights	Singapore	Besides these labor dispute mechanisms and the close working relationship and shared views among labor, management, and the Government, the maintenance of labor peace has been a product of high economic growth rates, regular wage increases, and a high degree of job mobility in a virtual full-employment economy. (references)
Source: compiled by the editor from ICON Group International, Inc.; see credits.

Spoken Usage: Economic Growth

Speeches: Economic Growth

Speaker	Term	Phrase(s)
John F. Kennedy	1961-1963	Since last spring our economic growth rate has actually receded.
Lyndon B. Johnson	1963-1969	We all have a stake in this Great Society-in its economic growth, in reduction of civil strife-a great stake in good government.
Gerald Ford	1974-1977	My first objective is to have sound economic growth without inflation.
Jimmy Carter	1977-1981	This slows our economic growth, it lowers the value of the dollar overseas, and it aggravates unemployment and inflation here at home.
Ronald Reagan	1981-1989	Well, the best way to reduce deficits is through economic growth.
George Bush	1989-1993	But just as our efforts will bring economic growth now and in the future, they must also be matched by long-term investments for the next American century.
Bill Clinton	1993-2001	For our own prosperity, we must support economic growth abroad.
George W. Bush	2001-2005	As we see new economic growth, we will need well-trained workers to fill new jobs.
Source: compiled by the editor from various references.

Expression: Economic Growth

Frequency of Internet Keywords: Economic Growth

Modern Translations: Economic Growth

Language		Translations for "economic growth"; alternative meanings/domain in parentheses.
Danish		nulvækst (no growth, zero economic growth, zero growth, zero-growth). (various references)

Dutch		zerogroei (no growth, zero economic growth, zero growth, zero-growth), nulgroei (no growth, zero economic growth, zero growth, zero-growth). (various references)

French		croissance zéro (zero economic growth), croissance nulle (zero economic growth). (various references)

Greek		μηδενική οικονομική άνοδος (no growth, zero economic growth, zero growth, zero-growth). (various references)

Hungarian		gazdasági növekedés. (various references)

Japanese Kanji		経済成長 . (various references)

Japanese Katakana		けいざいせいちょう. (various references)

Pig Latin		economicay owthgray.(various references)

Portuguese		meta econômica. (various references)

Spanish		desarrollo económico (economic development). (various references)
Source: compiled by the editor from various translation references.

Anagrams: Economic Growth

Scrabble® Enable2K-Verified Anagrams
	Words within the letters "c-c-e-g-h-i-m-n-o-o-o-r-t-w"
	-3 letters: chromogenic.
	-4 letters: crocheting, homoerotic.
	-5 letters: chromogen, ergonomic, hectoring, homegrown, microtone, mothering, theogonic, tochering.
Source: compiled by the editor from various references; see credits. SCRABBLE® is a registered trademark. All intellectual property rights in and to the game are owned in the U.S.A and Canada by Hasbro Inc., and throughout the rest of the world by J.W. Spear & Sons Limited of Maidenhead, Berkshire, England, a subsidiary of Mattel Inc. Mattel and Spear are not affiliated with Hasbro.

Alternative Orthography: Economic Growth

Hexadecimal (or equivalents, 770AD-1900s) (references)

45 63 6F 6E 6F 6D 69 63 47 72 6F 77 74 68

Leonardo da Vinci (1452-1519; backwards) (references)

Binary Code (1918-1938, probably earlier) (references)

01000101 01100011 01101111 01101110 01101111 01101101 01101001 01100011 00100000 01000111 01110010 01101111 01110111 01110100 01101000

HTML Code (1990) (references)

&#69 &#99 &#111 &#110 &#111 &#109 &#105 &#99 &#32 &#71 &#114 &#111 &#119 &#116 &#104

ISO 10646 (1991-1993) (references)

0045 0063 006F 006E 006F 006D 0069 0063 0047 0072 006F 0077 0074 0068

Encryption (beginner's substitution cypher): (references)

Speaker	Phrase(s)
John E. Sununu	Well, I've always supported cutting capital gains taxes, because they do discourage investment and economic growth. But I think where the tax code is concerned, the most important thing we could do right now is simplify it, reform it.
Rush Limbaugh	The most important factor to closing the deficit will be economic growth.
Source: compiled by the editor from various references; see credits.

Expression	Frequency per Day
economic growth	86
strategy for economic growth	16
economic growth and tax relief reconciliation act of 2001	14
economic growth progress	10
economic growth rate	9
economic growth and tax relief reconciliation act	6
economic growth inflation	5
selig center for economic growth	4
economic growth rate us	3
determinant of economic growth	2
Source: compiled by the editor from various references; see credits.

Expression using "economic growth": sluggish economic growth. Additional references.
Source: compiled by the editor from various references; see credits.

Economic Growth

Definition: Economic Growth

Economic Growth

Noun

Synonym: Economic Growth

Specialty Definition: Economic growth

Crosswords: Economic Growth

Commercial Usage: Economic Growth

Books

Periodicals

Non-Fiction Usage: Economic Growth

Spoken Usage: Economic Growth

John E. Sununu

Rush Limbaugh

Speeches: Economic Growth

John F. Kennedy

Lyndon B. Johnson

Gerald Ford

Jimmy Carter

Ronald Reagan

George Bush

Bill Clinton

George W. Bush

Expression: Economic Growth

Frequency of Internet Keywords: Economic Growth

economic growth

strategy for economic growth

economic growth and tax relief reconciliation act of 2001

economic growth progress

economic growth rate

economic growth and tax relief reconciliation act

economic growth inflation

selig center for economic growth

economic growth rate us

determinant of economic growth

Modern Translations: Economic Growth

Danish

Dutch

French

Greek

Hungarian

Japanese Kanji

Japanese Katakana

Pig Latin

Portuguese

Spanish

Anagrams: Economic Growth

Scrabble® Enable2K-Verified Anagrams

Alternative Orthography: Economic Growth

45 63 6F 6E 6F 6D 69 63 47 72 6F 77 74 68

01000101 01100011 01101111 01101110 01101111 01101101 01101001 01100011 00100000 01000111 01110010 01101111 01110111 01110100 01101000

&#69 &#99 &#111 &#110 &#111 &#109 &#105 &#99 &#32 &#71 &#114 &#111 &#119 &#116 &#104

0045 0063 006F 006E 006F 006D 0069 0063 0047 0072 006F 0077 0074 0068

39698180817975692418481898674

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