Get Ready for the Perma-Slump
Why are the world's great economies having such trouble growing? It's the question on every macroeconomist's lips these days, especially after government officials started downgrading expectations in the United States. A look back at economic history suggests the answer was staring us in the face all along.
Sorry to be a downer, but the American economy’s best days are behind it. (And China’s are too.)
Why are the world's great economies having such trouble growing? It's the question on every macroeconomist's lips these days, especially after government officials started downgrading expectations in the United States. A look back at economic history suggests the answer was staring us in the face all along.