Innovation Crisis or Financial Crisis?
Was the global financial crisis a harsh but transitory setback to advanced-country growth, or did it expose a deeper long-term malaise? The history of the first half of the twenty-first century may well turn on the answer.
CAMBRIDGE – As one year of sluggish growth spills into the next, there is growing debate about what to expect over the coming decades. Was the global financial crisis a harsh but transitory setback to advanced-country growth, or did it expose a deeper long-term malaise?