Can an Economy be Dynamic without Growth ?

Growth and economic dynamism have long gone hand-in-hand. For developed countries, such as France, no one is sure that this is still the case. Firstly, of course, because for many years now, the very way in which we measure growth and the well-being it generates has been called into question. Discussion on whether to replace one measurement of GDP with another should not, however, eclipse the key question.

Developed countries have, at least on average, higher income per head and a population that is now growing at a slower rate. For them, isn’t the issue more about preserving their national income and improving how it is shared out and used, rather than about ensuring continuous growth at all costs? In that case, doesn’t the economic momentum of a country lie in its ability to innovate and update its structures to maintain internal balance in an increasingly unstable world, where competition and techniques are constantly changing? If a country develops that kind of momentum, won’t the necessary growth come with it?