Supply Side, Demand Side, or Innovation Side?
It has become impossible to deny the so-called secular stagnation gripping the world’s developed economies: Wealth is piling up, but real wages are barely rising and workforce participation is on a downward trend. And policymakers have no plausible idea about how to boost potential and actual growth.
NEW YORK – It has become impossible to deny the so-called secular stagnation gripping the world’s most developed economies: Wealth is piling up, but real wages are barely rising and labor force participation has been on a downward trend. Worse yet, policymakers have no plausible idea about what can be done about it.