Without economic growth, we cannot have an upwardly mobile opportunity society

Does a country's economic prosperity lead to happiness?

Arthur C. Brooks 

There is perhaps no more famous statement of the American ideal than the Declaration of Independence’s claim that we possess the unalienable rights of life, liberty and the pursuit of happiness. That’s not a guarantee of happiness — just an assertion that it is our right to define it as we see fit, and pursue it. 

Of course, money doesn’t buy happiness. The reason economic growth matters, though, is because it gives us a shot at the pursuit. 

Without economic growth, we cannot have an upwardly mobile opportunity society. Instead, we get an envy society, where people fight over a fixed amount of resources. Parents are unable to envision their children doing better than they did—except by stealing from their neighbors (or worse). This is the situation in many countries around the world, and certainly one we would like to avoid here at home.


Read more: www.aei.org/