In order to improve living standards for future generations, the economy must

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In order to improve living standards for future generations, the economy must sacrifice consumer goods today. This is because resources, including natural resources and labor, need to be allocated towards investments in innovation, infrastructure, and education in order to increase productivity and stimulate economic growth in the long run. Sacrificing some consumer goods today can free up resources for these investments, ultimately leading to improved living standards in the future.

In Order to Improve Living Standards for Future Generations, the Economy