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One theory that relates economic growth with quality of life is the "Threshold Hypothesis", which states that economic growth up to a point brings with it an increase in quality of life. But at that point – called the threshold point – further economic growth can bring with it a deterioration in quality of life. [ 134 ]
In economic growth literature the term "convergence" can have two meanings. The first kind (sometimes called "sigma-convergence") refers to a reduction in the dispersion of levels of income across economies. "Beta-convergence" on the other hand, occurs when poor economies grow faster than rich ones.
Balance Growth refers to a specific type of economic growth that is sustainable in the long term. Balance Growth is opposed to the boom and bust nature of economic cycles. According to Alak Ghosh, " Planning with balanced growth indicates that all sectors of the economy will expand in same proportion, so that consumption, investment and income ...
Economic growth is essentially the increase in everyday services and goods in the economy. Many factors can contribute to it, not least of which are human capital and the existing labor force.
One health benefit associated with recessions—lower air pollution—immediately helped people live longer, especially the elderly. New report reveals the surprising benefit to economic ...
The Bank of England said earlier this month it now expects the economy to grow by 1.25% after growth in the first half of the year surpassed its initial predictions.
Growing the Pie refers to a theory that free market economics grow the size of every slice, and thus raises the standard of living for all participants. This theory proposes that growing the pie is better than redistribution of pie through a centrally controlled economy. Growing the pie is related to the concept of economic liberalism.
Once the second-largest economy in the world, Japan reported two consecutive quarters of contraction on Thursday — falling 0.4% on an annualized basis in the fourth quarter after a revised 3.3% ...