ABSTRACT
Councils of Economic Advisers. Growthmania is ecumenical.
The answer to the avoided question “When do the costs of growth in GNP outweigh the benefits?” is contained in the question itself. This occurs when the decreasing marginal benefit of extra GNP becomes less than the increasing marginal cost. The marginal benefit is measured by the market value of extra goods and services – i.e., the increment in GNP itself in value units. But what statistical series measures the cost? Answer: none! That is growthmania; literally not counting the costs of growth.
