Wednesday, June 14, 2017
The undeniable economic equation has variables
All presidents face a dilemma regarding the economy. They are judged in large part according to how wages, jobs, and retirement nest eggs perform on their watch. Yet they have little control over that performance. Growth, ultimately, is determined by long-term (and in some cases mysterious) factors: demographic trends, business innovation and technological progress, the education level of the workforce. Under the right circumstances, some measures—tax cuts, government spending—can boost growth, at least for a while. But for the most part, presidents cannot quickly influence the deeper elements that govern growth.
Source the atlantic.com SEBASTIAN MALLABY
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