Automation and Education Fuel Sustained Economic Growth
This study looks at how countries can grow wealthier over time. Traditional models say growth hinges on outside factors, like innovation, without explaining how these factors work. The authors delve into models where growth comes from within the system itself, not just from external boosts. They find that human intelligence and technology are vital for long-lasting growth. They also explore models showing that automation can affect growth, and diverse people's money habits can impact how wealth accumulates over time.