Is it better to have economic growth in an economy?

Question

Is it better to have economic growth in an economy?

Answer 1

As opposed to.......economic decline?  Think of it like food.  You eat too much you'll get fat, you don't get enough you'll starve.  You get a well balanced diet and you'll grow up to be healthy and strong.

Answer 2

I thought otherwise. Our current understanding of the economy is still very shallow, hence any conclusive remark might leads to the fallacy of neglecting secondary effect. Even positive real economic growth may leads to negative externalities such as increase pollutions, increase stress level, increased competition (although to a certain extent this is good for growth, however, I see it as a cost. I argue that when competition increase, the net utility of individual making the same amount of money to be reduced. Hence overall, there is a welfare loss) and other externalities that may not be identified yet.

Answer 3

yes if it is real economic growth and not nominal growth based on inflation. Economic growth means more stuff that people want people can get. Not necessarily all people but in general everyone could be better off.