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Expanding economic activity in space may offer a solution to secular stagnation

In this speculative article, I argue that the expansion of economic activity in space may offer a uniquely promising way to escape indefinitely from what economists call “secular stagnation,” a state of self-fulfilling, persistently sluggish economic growth that has increasingly threatened high-inco...

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Detalles Bibliográficos
Autor principal: Weinzierl, Matthew
Formato: Online Artículo Texto
Lenguaje:English
Publicado: National Academy of Sciences 2023
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10614598/
https://www.ncbi.nlm.nih.gov/pubmed/37844227
http://dx.doi.org/10.1073/pnas.2221347120
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author Weinzierl, Matthew
author_facet Weinzierl, Matthew
author_sort Weinzierl, Matthew
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description In this speculative article, I argue that the expansion of economic activity in space may offer a uniquely promising way to escape indefinitely from what economists call “secular stagnation,” a state of self-fulfilling, persistently sluggish economic growth that has increasingly threatened high-income countries. Economists have pointed to both supply-side and demand-side drivers of secular stagnation, and space as a focal point for investment can—at least in principle—address both. On the supply side, space is an unlimited frontier that, as have frontiers in the past, may inspire the individualism, innovation, and world-building needed to sustainably increase productivity and population growth. On the demand side, public investment toward increased economic activity in space could meaningfully add to aggregate demand if it reached historical peak benchmarks in the United States.
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spelling pubmed-106145982023-10-31 Expanding economic activity in space may offer a solution to secular stagnation Weinzierl, Matthew Proc Natl Acad Sci U S A Perspective In this speculative article, I argue that the expansion of economic activity in space may offer a uniquely promising way to escape indefinitely from what economists call “secular stagnation,” a state of self-fulfilling, persistently sluggish economic growth that has increasingly threatened high-income countries. Economists have pointed to both supply-side and demand-side drivers of secular stagnation, and space as a focal point for investment can—at least in principle—address both. On the supply side, space is an unlimited frontier that, as have frontiers in the past, may inspire the individualism, innovation, and world-building needed to sustainably increase productivity and population growth. On the demand side, public investment toward increased economic activity in space could meaningfully add to aggregate demand if it reached historical peak benchmarks in the United States. National Academy of Sciences 2023-10-16 2023-10-24 /pmc/articles/PMC10614598/ /pubmed/37844227 http://dx.doi.org/10.1073/pnas.2221347120 Text en Copyright © 2023 the Author(s). Published by PNAS. https://creativecommons.org/licenses/by-nc-nd/4.0/This open access article is distributed under Creative Commons Attribution-NonCommercial-NoDerivatives License 4.0 (CC BY-NC-ND) (https://creativecommons.org/licenses/by-nc-nd/4.0/) .
spellingShingle Perspective
Weinzierl, Matthew
Expanding economic activity in space may offer a solution to secular stagnation
title Expanding economic activity in space may offer a solution to secular stagnation
title_full Expanding economic activity in space may offer a solution to secular stagnation
title_fullStr Expanding economic activity in space may offer a solution to secular stagnation
title_full_unstemmed Expanding economic activity in space may offer a solution to secular stagnation
title_short Expanding economic activity in space may offer a solution to secular stagnation
title_sort expanding economic activity in space may offer a solution to secular stagnation
topic Perspective
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10614598/
https://www.ncbi.nlm.nih.gov/pubmed/37844227
http://dx.doi.org/10.1073/pnas.2221347120
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