Given the likelihood of a contracting economy, there are many virtues of simple living that are being discussed. One thing I've noticed is that technological progress is not even measured in very well in GDP. As technology continues to advance, it can even distract from GDP. For instance look at the falling price of electronic technology. Look at the disruption of jobs, for instance in journalism, due to online news.
At the same time, there is still lots of pressure to grow traditional GDP. Population growth is one thing that creates that pressure given things like the housing shortage.
See next blog entry.