Two global scenarios for economic progress
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Two global scenarios for economic progress
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There are 2 main scenarios for future economic growth and technical progress: (1) exponential and (2) asymptotic. The first is propagandised by Singularity and 4th Industrial Revolution proponents. Under the asymptotic scenario, the rate of growth in the long term is about 0.2%, or Britain’s rate of growth from 1300 to 1750, up until the first industrial revolution. Which one is accurate?
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