Welcome To The Blog

Welcome to In Praise of Growth by me, Ville Vesterinen.

I explore the importance of growth and talk with individuals who are creating the wild inventions and ventures that our future growth depends on be it in science, business or arts.

My hope is that readers and listeners will find inspiration, a new-found understanding of the importance growth, a few new tools and models, and most importantly an excitement fuelled urgency to get going.

The podcasts are long and juicy. The blog posts more structured and to the point.

Why Growth Matters

It's worth repeating how important (long term, creative and sustainable) economic growth is. Economic growth is what will ultimately lift everyone's quality of life. Conversely we'll all be hosed if the economic growth slows down significantly and the technology driven growth in our living standards during the past 200 years turns out to be the exception rather than the rule. All things considered the faster the pace of long term economic growth, the better off everyone will be.

More science, engineering and arts combined with the relentless creative human spirit is the way forward in a world where technology is making repetitive work redundant and have lead to the jobless recovery we are currently living through. We should not wait to get going. If we let people loose hope along with their jobs we are flirting with a revolution that capitalist system may not survive as we hope it would. The alternatives are not great.

For me growth goes even beyond this. Growth represents a sense of shared direction, creative expression, entrepreneurship, advancement of science, art, hope, peace and excitement for the future. It lifts societies and can be a lifechanger for the individuals who get to be part of a great growth story. Growth is a close friend of progress and the ultimate enabler.

It’s true that if not managed properly economic growth can easily get a bad rep because of the potential for large economic inequalities and market failures like polluting the environment. These are both important issues that we need to collectively figure out but the distribution of wealth and the pricing of negative externalities should not cloud the importance of economic growth itself. Quite the contrary. Economic growth makes all the solutions possible.

What unlocks a lot of the economic growth is the market dynamic. It is nothing short of remarkable how markets can create value out of nothing. Internet alone has enabled unprecedented scale to create value through Internet marketplaces. Every year that passes more people have access to Internet around the world. This makes Internet marketplaces some of the greatest opportunities to unlock growth, value and opportunities for increased quality of life for everyone on the planet. Bill Gurley has great post about the value that Internet marketplaces in particular unlock. For all these reasons I'll start my exploration with marketplaces and talk with operators who have been part of building and scaling them.

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