Ecological economics theory has sustainable growth in quality and zero growth in quantity. Classical economics has a robust growth rate of more than 5%. President Obama was borrowing a little from ecological economic theory to explain the insipid 1% growth rate that was satisfactory to select Harvard marionettes of his administration I would guess; typical Democrat party trickery with Eleatic economics.
A history of economics and capital named Capital in the Twenty-First Century, written by Thomas Piketty, explained that the rate of growth tends to follow select patterns during the growth phase compared with a mature economy that settles down to a lower rate, China’s economy is has grown rapidly the past couple of decades in keeping with their entry into limited market economics with an immature economy. Looking at Piketty’s charts one would guess that China’s economy would settle down in two or three decades. It might be compared to where the United States was in, oh, the 1950s.
President Obama’s economy was not a sustainable ecological economic economy with sustainable infrastructure. Democrats don’t actually understand what that is and try to substitute ‘Cargo Cult’ economic policy for actually well-founded ecological economics. With so much work outsourced abroad these days the 1% was deceptive; it was a government job security and bureaucracy economy with high, unemployment and underemployment compelling citizens to live on government programs. Quite an unhealthy situation.
The Trump economy is the Obama economy plus plundering natural resources for an extra few percentage points of growth. Neither Obama nor Trump has a clue about Ecological Economics or capacity to lead the nation toward that. The President should at least use the L1 solar reflecting mirrors to cool the Earth 1% as his campaign idea for reducing global warming. It would require building the mirrors on the moon of regolith and launching them to L1 with the low delta v required…even an electromagnetic mass driver on the moon would provide most of the push. President Trump’s moon program is just what is needed to get the mirror project going. Of course the Democrats won’t fund the moon program willingly though it will be needed to cool the Earth in the decades ahead most likely. The idea was developed at a Sept. 2001 White House meeting on global warming, probably before 9-11. The timing is appropriate for politicians ignored warnings then too.
President Trump has the challenge of dealing with a growing Chinese economy that is in the classical economic criterion while transitioning the nation to sustainable quality growth only. That is beyond his capacity so he is just growing it the old fashioned way by exploiting endangered, natural resources causing harm to the ecosphere and adding to global warming. really, all of the politicians running for the job are clueless- even the Yang campaign seems to have some fairly socialist ideas about giving 1000 dollars to everyone in the nation without working. That would create a surplus of gamers I would guess.