NEW YORK – Decades of plodding growth together with the 2008 financial crisis have prompted a seismic shift in economic thinking in much of the world. There is talk of moving resources from investment to consumption, from heavy industry to “services,” and from private sector to public sector. But what strikes me is that these arguments focus only on improving the mix of outputs within an economy, with no attention paid to labor.
A Good Economy for China
17 June, 2016
NEW YORK – Decades of plodding growth together with the 2008 financial crisis have prompted a seismic shift in economic thinking in much of the world. There is talk of moving resources from investment to consumption, from heavy industry to “services,” and from private sector to public sector. But what strikes me is that these arguments focus only on improving the mix of outputs within an economy, with no attention paid to labor.
NEW YORK – Decades of plodding growth together with the 2008 financial crisis have prompted a seismic shift in economic thinking in much of the world. There is talk of moving resources from investment to consumption, from heavy industry to “services,” and from private sector to public sector. But what strikes me is that these arguments focus only on improving the mix of outputs within an economy, with no attention paid to labor.
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