Friday, September 16, 2011

Robert Barro vs. Jamie Galbraith


Jamie Galbraith goes head to head with Robert Barro, in the enemy's territory (Bloomberg). Several important points raised by Jamie. Beware of the delirium about the post-1980s being the start of two decades of prosperity. In fact, medium income stagnated after that, and growth has been based on a series of unsustainable bubbles.

No comments:

Post a Comment

Catching up and falling behind in historical perspective

The figure below, from a recent piece in the Wall Street Journal , shows the catching up of the South. Note that most occurs after the New ...