Economic growth, the process by which a nation's wealth increases over time. Although the term is often used in discussions of short-term economic performance, in the context of economic theory it generally refers to an increase in wealth over an extended period of time. Read Britannica by Milton Friedman. The killing took place during a recession that was partly blamed on the rise of Japan's auto industry. In a letter to the Harvard community, President Larry Bacow condemned the Atlanta shootings and stressed that the university opposes anti-Asian racism and all kinds of hatred and intolerance. “For the past year, Asians, Asian Americans.