Why do economies stop growing?
- 24 May 2012
Michael Spence, a Nobel laureate in economics identifies the slew of self-limiting growth patterns that are that are preventing advanced and developing countries from achieving sustainable economic growth. Project Syndicate
"The unpalatable truth is that European countries can no longer rescue themselves from stagnation without international support. What should have happened at the G-8 – and what must happen at the G-20 next month – is a coordinated global response that will help Europe decisively address the two elements of the crisis that are being ignored." New York Times
Republicans love talking about cuts, but they're not so big on implementing them, writes Mark Schmit. Next New Deal
Vuk Vukovic argues that the idea of depicting the debate as austerity vs growth is wrong. "This implies that the solution is the opposite of austerity – a monetary or fiscal stimulus to close down the nominal GDP gap. Even if a short-term fiscal or monetary stimulus can temporarily boost growth, that isn't the way towards a proper restructuring of the economy." Adam Smith
Robert Reich wishes the President would draw the obvious connection between Bain Capital and JPMorgan Chase: both are part of a deadly strain of capitalism that is based on gambling with other people's money. Robert Reich
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