An Economy in Deep Trouble: Proposals for Improvement

An Economy in Deep Trouble: Proposals for Improvement

It has been a long time since I can recall such an atmosphere of economic pessimism. For two years now we have heard that the recession was over, or soon would be over, or in any case wouldn’t get worse, certainly not much worse; but this R-talk is sounding ever more hollow, as the economy slogs along, with stubborn unemployment, sluggish sales, and a pervasive gloom you could cut with a knife. In fact, I suspect that we will not know we have turned the corner until someone in the next administration—let us hope that it is the next administration—finally explains that we have been going through a long and sapping depression, and that the challenge of the next decade is to pull ourselves out of it.

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Lima