BIS central bankers’ speeches  1  especially because the young, who are most benefited from job creation, are the generations that will be working to pay off commitments to older generations. Given the young are also the cohorts that can take to the streets, growth is essential for social harmony.
A third reason is that, within country, long periods of below par growth can lead the unemployed to become unemployable. Growth is also extremely important for emerging markets and developing countries, where populations are typically younger, poorer, and social safety nets thinner.