Similarly, recent economic studies suggest that fast economic growth and lower poverty rates do go hand in hand in the developing world. However, a country's income distribution is much less sensitive to an economy's growth rate. The U.S. economy is more productive and more competitive than at any point in the last century. The prospects for the world economy are also heartening. The worry shouldn't be that growth at home and abroad is too robust, but that economic pessimists will restrain the sense of optimism, of possibility, and the desire to take risks that drives economies forward.
Growth is good, good, good.
Farrell is contributing economics editor for Business Week. The McGraw-Hill Companies Inc. All rights reserved.