Part 5/11:
The Political Incentives Behind Growth
Politicians’ relentless pursuit of economic growth stems from its manifold benefits: increased outputs, heightened income levels, and, crucially, greater tax revenues. Higher GDP translates into more room to maneuver for government spending on essential services such as healthcare and education.
When economic growth slows—as it has for the past 15 years—the repercussions are severe: public services stagnate, tax burdens become heavier, and overall well-being declines, creating a tumultuous environment that threatens both social and political stability.