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Monday, May 21, 2007

"If output per person in 2025 is more than 5 times what it is today, then the economy will have won the race. That means that all of the concerns that economists raise about the middle of this century, such as the external debt of the U.S. economy (the cumulative trade deficit), the fiscal implications of Social Security and Medicare, or gloomy scenarios for global warming, will be trivialized by the sheer heights that economic wealth will have scaled by that time. If Kurzweil is correct, then the mountain of debt that we fear we are accumulating now will seem like a molehill by 2040."

"If annual productivity growth was 3.5 percent in the decade ending in 2005, then it will be 7 percent in the decade ending in 2015 and 14 percent in the decade ending in 2025. By that time, productivity would be more than 7 times what it is today. Thus, if average income per person is $35,000 today, then it will be over $250,000 per person (in today's purchasing power) in 2025."

http://www.fastercures.org/sec/bits_biology_bionics

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