I'm looking at the S&P P/E ratios today and thinking wow, people sure are optimistic about future growth. I'm wondering what people think will be driving GDP growth in the future long-term. I understand much of 2017's gains are likely due to optimism about the effects of lowered corporate and individual taxes, but that doesn't seem like a big systemic long-term change (And personally I think supply-side economics is ultimately a drag on GDP long-term, but oops, does that count as politics? Or can we call that economic theory? Sorry.).
Looking back I see big ticket game changers that have driven growth: the industrial revolution, women entering the workforce nearly doubling the workforce, the information age - computers and the web... what now?
Electric cars? 3-D Printing? Neither of those sounds to me like that big a deal, just improvements on the current state.
AI? Genetic engineering? I can imagine maybe these being game changers, but could also fizzle, or cause as much trouble as they help.
Fusion power? Asteroid Mining? Getting far fetched now, might never happen, and even if it did maybe wouldn't add that much to growth.
Flying cars? Oh come on, you know we aren't ever getting flying cars...
Clearly I lack vision, or at least optimism. What do you think will be the next game changer?
Looking back I see big ticket game changers that have driven growth: the industrial revolution, women entering the workforce nearly doubling the workforce, the information age - computers and the web... what now?
Electric cars? 3-D Printing? Neither of those sounds to me like that big a deal, just improvements on the current state.
AI? Genetic engineering? I can imagine maybe these being game changers, but could also fizzle, or cause as much trouble as they help.
Fusion power? Asteroid Mining? Getting far fetched now, might never happen, and even if it did maybe wouldn't add that much to growth.
Flying cars? Oh come on, you know we aren't ever getting flying cars...
Clearly I lack vision, or at least optimism. What do you think will be the next game changer?