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
- Black studies professor in the middle of exploding scandal at the University of North Carolina
- 2 conservative groups are leading the fight against the new AP standards
- The secret of successful history departments
- AHA president suggests older historians should consider making way for younger historians
- Niall Ferguson Joins Schwarzman Scholars as Distinguished Visiting Professor in China