First, believing in the overriding importance of sustained economic growth is more than philosophically tenable. Indeed, it may be philosophically imperative. We should pursue large rather than small benefits, and we should have a deep concern for the more distant future rather than discounting it exponentially. Our working standard for evaluating

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How much money would these three investors end up with over time? Sue ends up with $435,551. Jim has $257,386. Tom $234,476. Sue wins by a mile. There were 1,428 months between 1900 and 2019. Just over 300 of them were during a recession. So by keeping her cool during just the 22% of the time the economy was in or near a recession, Sue ends up with

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