The one fundamental reason why growth is so important is that without growth, the economy becomes a zero sum game. In order for you to get more money you must take it from someone else since there is only a fixed amount. A low growth world is one where we plunder each others' wealth, not one were the incentives are aligned with building new industry. That's why productivity increases are so important. Without them, i…
1. If you look at the productivity gains in the U.S. over the past 50 years, the vast majority of the gains have been captured by a very small subset of the population. 2. A zero sum game in terms of the distribution of money is not the same as a similar distribution of wealth.
Your comment about "distribution of money" and "distribution of wealth" makes no sense, but let's assume that by "money" you mean "income." By definition, looking at the distribution of anything is zero-sum. The problem is, growth has nothing to do with distribution and everything to do with production. Production is not a fixed-sum game: you can have positive-, negative- or zero-sum production at any given time. The chief question of production is how do we produce more wealth using fewer resources, or more efficient combinations of existing resources? How we should distribute that wealth, income and control over the products made is an ethical and political question (though I am strongly opposed to any scheme that seeks to deprive a person from owning the product of her labor).