Economic growth

The increase in a country's or region's production of goods and services over time, typically measured by rising gross domestic product (GDP).

The term became central to economic discourse in the 1940s-50s, particularly after WWII reconstruction efforts. 'Economic' comes from Greek 'oikonomia' (household management), while 'growth' derives from Old Norse 'groa' (to grow), reflecting how economists began viewing national economies as organic systems that could expand.