Marc Andreessen expands on this more but essentially GDP growth allows for more productivity growth that wouldn’t occur without economic growth. And the more productivity growth we have the less natural resources we need.
This is why economic growth is key to climate change. As disposable income grows for the median household, adoption for socially acceptable goods will increase. When you increase taxes and regulations everywhere, you decrease the ability to adopt pro-climate consumerism.
This is likely the most accurate take. Psychologically humans tend to categorize the median with the extreme outliers. That’s why we eat these kind of articles up, when instead we should be talking about how to start a successful business without coming from a rich family.
They are called dynasty trusts and the IRS allows shelter for up to only $11.7m per individual. After a google search I see there are many more states that allow them these days.
> If someone buys an 8 unit condo building in 1980 and rents out each unit for a 20% profit, 20 years later they’re still making a 20% annualized profit…
I can tell you don’t own any investment properties.