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0 pointsjasoncrawford4y ago0 comments

It's not always assumed to be exponential. It was assumed exponential by Paul Romer because long-term economic growth is pretty exponential. Much subsequent work has followed that model, but not all of it.

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pishpash4y ago

But TFP is not output. Exponential output growth can come directly from exponential input growth, which would be a trivial obvervation.

marcosdumay4y ago

> long-term economic growth is pretty exponential

Yeah, that graph with the largest time scale on the article strongly disagrees.

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pishpash4y ago

But TFP is not output. Exponential output growth can come directly from exponential input growth, which would be a trivial obvervation.

marcosdumay4y ago

> long-term economic growth is pretty exponential

Yeah, that graph with the largest time scale on the article strongly disagrees.

j / k navigate · click thread line to collapse