“No Limits” sounds like the kind of hyperbole you’d find printed on a tee shirt or baseball cap.
At many levels, however, it is literally true. “No limits” isn’t about bravado and posturing, but about the power of ideas.
Sure, there are the limitations of physical as well as man-made laws. Certainly there can be limiting circumstances and a disequilibrium of resources available to different individuals or nations.
Ronald Reagan said, “There are no such things as limits to growth because there are no limits on the human capacity for intelligence, imagination and wonder.”
Paul Romer, economist at Stanford, has profoundly shaped my thinking about growth theory. His new growth theory has effectively turned traditional economics on its head by claiming that physical resources are not the limiting factors of growth; ideas are. And since we will never run out of new ideas, we can effectively overcome the limitations of physical resources.
The quickest way to bankruptcy isn’t to run out of money; it is to run out of ideas.