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July 22, 2014

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letter to the editor:

Economic growth is at capacity

In his April 8 column “A tax reformer’s uphill push,” George Will referred to an economic growth rate of 4 percent per year. That shows that Will has no understanding of high school math.

If the U.S. economy were to grow at a 4 percent annual rate, it would double every 18 years — in 18 years it would be twice as large, in 36 years four times as large, in 54 years eight times as large and in 180 years more than 1,000 times as large. That rate of growth cannot and will not happen.

Humanity must understand that economic growth is over and all efforts to maintain economic growth must fail.

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