What is Economic Growth?

Tags: Interventionism, Value and Exchange

10/08/2014 Mark Thornton

In this Mises View, which is an excerpt from a recent seminar lecture, Mark Thornton explains how our standards of living improve through real economic growth. Thornton is a Senior Fellow at the Mises Institute.

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.