About that Report Economic Growth
So GDP is growing at about 2 percent. (That's not the same as "the economy.") The rub is that it's driven by consumer and government spending. Real economic growth requires investment, and investment has not recovered. But private (real) investment requires savings--that is, deferred consumption. So increased consumption is not a path to economic growth. Increased sustainable consumer spending is an effect not a cause of economic growth.
comments powered by Disqus
- Historian says Indian mascots remain popular even at schools that dropped them
- A column by Johns Hopkins historian N. D. B. Connolly causes a firestorm on the website of New York Times
- Garry Wills says the Pope is scaring the dickens out of rich people
- Tufts Prof: Obama Needs to Invite Jesse Jackson to White House
- Hilary Swank will play Emory historian Deborah Lipstadt in upcoming movie