Economic growth is based on technological progress. Without technological progress there would be no rise in living standards over time.
One might think living standards would stay at a stable level, if technological progress came to a halt. A given level of technology corresponds to a certain capacity to produce goods and services. If technology neither advanced nor regressed, wouldn’t then living standards stay at the same level over time ?
No, they would not – because of politics. If the negative effect of politics on the economy were no longer offset by technological progress, living standards would decline.