The growth of Middle Earth

Everywhere we drive I see old buildings torn down and new buildings rising. Even in the poorest villages through which we have passed, this phenomenon occurs. I rarely see such things in my home state of Ohio. Thus do I wonder: is Ohio on its steady-state growth path, or is it merely stagnant? Furthermore, is China “leveling up” to the steady state, or is this what a country with so much labor and human capital, but so little physical capital looks like? And how could the Solow model, so simple in hindsight but so elusive before discovery, keep me awake at night?

My macroeconomics professors were correct to quote Lucas. Once you start thinking about growth, it is difficult to think about anything else.