6.2 Economic Growth: A Transition Friend

Traditionally, economic growth is measured in terms of how much the gross domestic product (GDP) of the country is growing, that is, how quickly the American pie is getting bigger. What is a better way to measure economic growth by for individuals? Answer
When do we have the most opportunity for growth? Answer
Why does shrinking the welfare state promote economic growth? Answer
Why is emphasizing measures that kickstart and accelerate growth important when transitioning from welfare statism to capitalism? Give examples of how compounding impacts economic growth. Answer
Why are tax cuts combined with government spending cuts and well-designed deregulation the best kickstart options? Answer
How can taxes be reduced without reducing the amount of tax dollars the government takes in if growth is strong? Answer
Why should taxes be eliminated when the transition to capitalism comes to an end? Answer