Investment, Productivity, and the Bonus Culture

Andrew Smithers
American Affairs Journal, Summer 2020 / Volume IV, Number 2, 21st May 2020

Weak growth is far and away the most important economic problem facing the United States. This problem is not simply the result of the financial crisis or the severe recession that followed; the period of low growth began in 2000. Rather, it is the result of a much earlier reduction in business investment. While short–term…

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