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The purpose of any economic system ought not to be growth for its own sake, but the efficient allocation of resources. Foremost... the provision of a decent life in which output is distributed equitably, people do not need to struggle to meet their basic needs... and... realize their human potential. This means... sufficient leisure time to participate in... social, cultural, and political life.
— John Komlos
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "The purpose of any economic system ought not to be growth for its own sake, but the efficient allocation of resources. Foremost... the provision of a decent life in which output is distributed equitably, people do not need to struggle to meet their basic needs... and... realize their human potential. This means... sufficient leisure time to participate in... social, cultural, and political life." in the context of "" to mean that wisdom is timeless.
Source:
The 'What it means' explanation text was generated by Google Gemini Flash (accessed January 19, 2026). https://gemini.google.com/app
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About John Komlos
John Komlos (born 28 December 1944) is an American economic historian of Hungarian descent and former holder of the chair of economic history at the University of Munich.
About John Komlos
John Komlos (born 28 December 1944) is an American economic historian of Hungarian descent and former holder of the chair of economic history at the University of Munich.
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