Why do we want to grow the economy?

[garage sale GT]

Proponents of illegal immigration often say it will grow the economy.

Consider, though. What if the number of workers, companies, imports, exports, goods and services being bought domestically, etc. doubled overnight by magic?

Wouldn't everybody still make the same wage, assuming customers could be found for all the extra exports?

The economy would be TWICE AS LARGE but...

PROSPERITY would be about the same.

Or.... what if the number of workmen in the US doubled in a year, and everybody made on average 51% of what they had made before the doubling, and spent all of it on goods and services? That would be a slightly larger economy, but with about half the prosperity.

So, why do we want to see the economy grow? It's a concern for the super-rich who own a lot of stock in companies.

It's also a way companies can cut their labor cost and make it sound good.

 

[reighn]

What kind of question is that. Of course, the normal citizen wants to grow the economy of their country for a lot of benefits The price of the products will become affordable, No need to work hard and just depends on the normal monthly salary and that salary is enough to feed your family. in the situation in our country, the people will not attempt to go to the other country just to work, they can live here with their family if that's happened.

 

[garage sale GT]

Let me provide a little background. I was commenting on the United States even though this forum is based in Australia (I think) but plenty of people from both places post here.

I was hoping people who were well versed in some of the benefits of protectionism might argue with some people we have over here who think a growing economy is the same as prosperity.

And that's my point, btw. When the economy gets bigger, it need not bring about less need for hard work or goods selling at a better price.

A growing economy is not the same thing as prosperity.