For decades, 4% annual growth was reliable. The math was simple: population growth contributed roughly 1%, real consumption added another 1–2% and pricing supplied the rest. Three levers, consistent output. That equation is now broken.
For decades, 4% annual growth was reliable. The math was simple: population growth contributed roughly 1%, real consumption added another 1–2% and pricing supplied the rest. Three levers, consistent output. That equation is now broken.