Resumen de The Paradox of Wealth.
A recent FAJ article by Laurence Siegel painted a sunny picture of the world's economic and environmental future. Although the author agrees with Siegel's analysis, his optimism does not extend to security returns; both theory and long-run empirical data support the notion that economic growth lowers security returns by reducing impatience for consumption and altering the supply-demand dynamics of capital-the price of living in an increasingly prosperous, safe, healthy, and intellectually gratifying world.
