Economics might be very wrong about growth: Bloomberg View

February 10, 2016 • Daily Email Recap

Economic might be very wrong about growth: Bloomberg View

See original/source content: Bloomberg / Oregon Live

Has the world entered a period in which economies simply won’t grow at the rate they once did? Radical as the thought may seem, it might not be radical enough.
A few years ago, the economist Larry Summers stirred much debate when he suggested that the anemic growth of recent years might not be just a temporary affliction, and might have little to do with the 2008 financial crisis. Instead, he surmised, it could reflect secular stagnation — a new normal of low consumption and lagging growth stemming from accumulated household debts and rising inequality, among other factors. In different terms, considering the impacts of technological innovations, economist Robert Gordon has been arguing for much the same conclusion.
See original/source content: Bloomberg / Oregon Live

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