Login or Register
Jeff Madrick is the author of The End Of Affluence and the editor of Challenge magazine.
The Great Unraveling: Losing Our Way in the New Century
By Paul Krugman, W.W. Norton & Company, 462 pages, $25.95
Supply-siders point to economic growth during the 1980s as a vindication of Reaganomics. But adjusting for the business cycle shows that the real rate of productivity growth has been the same over the past three decades.
Even before the swooning of the Dow, the current economic expansion was less robust than it appeared. Is this a new economy? Or just people working harder to stay in place?