This continuous growth in the last two centuries has fundamentally changed the economic environment: the range and quality of consumption goods, the means and possibilities of production, the available types of technology and the ways how people communicate, interact and conduct their lives. For now, I would like to somewhat confine our view and look at no more than the past 45 years.
In the chart you can see the real growth rates for Austria and (by comparison) for the United States for the period from 1970 to today. This chart contains three interesting messages.