Which economic growth curve would you prefer?
by phil on Friday Mar 20, 2009 12:14 PM
Would you prefer the red line or the blue line?
Psychologically, the blue line would make us happier because of less ups-and-downs. However, the red line has a larger surface area underneath it, and so that means an economy that's maybe 2 or 3 times as large.
Peter Thiel, co-founder of PayPal, speaking at The Singularity Summit, said that booms and busts are symptoms of the approaching Singularity. Each boom is a new bet on the Singularity.
I'm not sure if this is exactly the case, as Tim Swanson cites that the booms and busts have had more to do with financial market bubbles.
However, there is something to be said about the Singularity just being a really good boom.
On a related note, this represents my view of history:
I believe that in the longview, things are getting better: