Over the long term,by far the most potent force for raising average material living standards is

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Economic growth, which refers to a sustained increase in real GDP over time, leads to an increase in production and productivity, which in turn leads to an increase in average material living standards. This allows for more goods and services to be produced and more resources to be allocated towards improving living conditions, such as education, healthcare, and infrastructure. Reducing inefficiencies and implementing appropriate fiscal policies can certainly contribute to economic growth, but they are not as potent in raising average material living standards in the long term as economic growth is. Redistributing income and increasing the money supply may have short-term effects on living standards, but they are unlikely to have a sustainable impact on the long-term growth of a country's economy.

Over the Long Term,by Far the Most Potent Force for Raising