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More hands, more work, more things produced."Gross Domestic Product (GDP), a measure of economic success or failure, is the number of people multiplied by per capita income.Slow population growth, and economic growth will likely slow as well unless advances in productivity and spending increase at rates high enough to make up the difference.Karen Gaia says: Population growth feeds these 'booms'.
The number of humans is still increasing by 1.18% per year, or 80 million annually, the equivalent of nearly two Sudans, or three and a half Taiwans.
But others saw it as the residential embodiment of the Edward Abbey line that "growth for the sake of growth is the ideology of the cancer cell."Now median home prices have fallen from 0,000 to 0,000, one in eight houses are in some stage of foreclosure and the crime rate has spiked well above the national average, and unemployment hovers around 1%.
Nationwide, foreclosure increase 119% from two years ago.
An economic "slowdown" that results from slowing and eliminating population growth is distinctly different from that caused by a credit crunch or the messy bursting of a speculative bubble.
While it's true there will be fewer mouths to feed, there will also be fewer pairs of hands needing employment.