How does the Economy Grow?

What do Nokia flip phones, the Model T, fracking, and the iPhone have in common? According to this episode of The Personal Wealth Coach, they are all clues to how the economy really grows, and why most people misunderstand it. Jake McClure takes listeners on a fast moving, surprisingly entertaining tour of economic history, breaking down the difference between slow, steady incremental growth and those rare, world changing bursts of exponential innovation. Along the way, he connects bank panics, recessions, energy markets, war, and technology revolutions, from Apple’s near collapse to America’s rise as a global liquid natural gas powerhouse. If you want to understand why inflation flares up, why new technology often follows pain, and why discomfort is sometimes the fuel for progress, this episode delivers insight with humor, perspective, and plenty of memorable stories.

This episode was recorded on April 24, 2026.

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** The information provided in this episode is for educational purposes only and should not be considered investment advice. We are “The Personal Wealth Coach,” which is also the name of an SEC-registered investment advisory firm. However, being registered with the SEC does not authorize us to provide investment advice. Investment advice should be personalized, offered in a private setting, and be in the best interests of the individual as a fiduciary. If we make any fraudulent statements, you should report them to the SEC. The information presented in this educational episode has been obtained from sources that we deem to be reliable, but we make no warranty or guarantee as to the completeness or accuracy of said information.