Normal economic growth

The most important thing I learned from Piketty is that since the Industrial Revolution, normal economic growth has always been (and maybe always will be) between 1% and 1.5% per year….

Scott Alexander, Slate Star Codex, discussing Thomas Piketty’s Capital In The Twenty-First Century. I love Alexander’s “Epistemic Status” prefaces, as this time:

Epistemic status: I am not an economist. Many people who are economists have reviewed this book already. I review it only because if I had to slog through reading this thing I at least want to get a blog post out of it. If anything in my review contradicts that of real economists, trust them instead of me.

I blog on much lesser provocations than reading a whole economics book.

Reader John @ReaderJohn
My main blog is the Tipsy Teetotaler,