Can The Economy Grow Forever?

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      Lesson summary:

      The video explains exponential growth and its relation to the global economy, which has been growing for the past 200 years. Many economists believe that an eternally growing economy is crucial to improving people’s lives. However, the question arises whether infinite growth is possible on a finite planet. The economy is measured by the total financial value of everything produced and sold in the market and requires inputs like labor, capital and natural resources to create value. The global economy has become more efficient over time but new technologies can also generate new demand, leading to resource depletion and climate change. Economists disagree on how to solve these problems, with most believing that human ingenuity will rise to meet the challenges, while others believe that reengineering the economy is necessary.

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