Michael Spence explains why "secular stagnation" is not a problem that the US and other... - 0 views
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The Real Challenges to Growth
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In the United States, GDP growth remains well below what, until recently, had been viewed as its potential rate, and growth in Europe is negligible.
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In most advanced economies, the tradable sector has generated very limited job growth – a problem that, until 2008, domestic demand “solved” by employing lots of people in the non-tradable sector (government, health care, construction, and retail).