"Reductio ad absurdum for the 4%-ers: Suppose toothpick production grows at 4% forever, and the rest of the economy stagnates. Doesn’t your position imply that “economic growth” asymptotes to 4% despite near-total stagnation?"https://www.econlib.org/archives/2011/10/the_toothpick_p.html …
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Replying to @bryan_caplan
I don't get the reductio. What's absurd isn't that the asymptote approaches 4%, that's mathematically true, it's the assumption that the toothpick industry grows at 4% in perpetuity, while the rest of the economy stagnates.
2 replies 0 retweets 8 likes
Replying to @ArthurB @bryan_caplan
what with such growth in toothpicks one would expect improvement in related industries, such as kababs
7:00 PM - 21 Feb 2021
0 replies
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