In many ways, the growth obsession is a product of the Reagan-era deregulation craze, and the "Greed is the One True God" ethic that kinda took over Wall Street then. (Try reading some stories about GE before Jack Welch became CEO, and after.) Other big contributors:
- The huge sums of wealth which tens of millions of ordinary people feel they need to accumulate, to pay for their (grand)?children's college education, unexpected medical bills, many decades of retirement and elder care, etc. Compare that to (say) the 1950's.
- The huge structural and social barriers to creating small businesses in most economic sectors, compared to (say) 60 years ago. Back then, how many of the businesses in an average town were (at most) small-ish, family-owned companies?
- How d*mn much "money" is sloshing around the financial system these days, with the "at any sign of crisis, pour in more $trillions" monetary policies of the Fed.
- The huge sums of wealth which tens of millions of ordinary people feel they need to accumulate, to pay for their (grand)?children's college education, unexpected medical bills, many decades of retirement and elder care, etc. Compare that to (say) the 1950's.
- The huge structural and social barriers to creating small businesses in most economic sectors, compared to (say) 60 years ago. Back then, how many of the businesses in an average town were (at most) small-ish, family-owned companies?
- How d*mn much "money" is sloshing around the financial system these days, with the "at any sign of crisis, pour in more $trillions" monetary policies of the Fed.