Wise words from Northwestern economist Robert Gordon:
“…Yet the
widespread unease goes beyond slow growth and the accompanying wage stagnation.
Underlying deep-seated voter anxiety follows trends that are decades in the
making, including fears of insecurity that plague millions of Americans.
Some of these problems
can be tackled with bold presidential policies. But there are limits, and other
problems may lie beyond the realm of feasible solutions.”
William D. Nordhaus on Gordon’s Rise and Fall of American Growth
http://www.nybooks.com/articles/2016/08/18/why-economic-growth-will-fall/
We’re in a Low-Growth World. How Did We Get Here? By NEIL
IRWIN
US Post-Crisis Economic Recovery Continues to be
Disappoint:
“Even seven years
after the recession ended, the current stretch of economic gains has yielded
less growth than much shorter business cycles.
In terms of average
annual growth, the pace of this expansion has been by far the weakest of any
since 1949.”