We call humanity’s quest for improvement—to ensure better harvests, more comfortable homes, easier ways to make a living—the Perpetual Growth Machine, or PGM for short. The PGM explains why and how economic growth happens. It can be applied to virtually all socioeconomic questions, whether historical or current. It can be used to make sense of international conflicts, national and regional policies, political agendas, and more. And as growth investors, we view the PGM as offering a solution to the challenge of understanding and profiting from growth.
