We wonder what Robert Gordon has to say in response to the above video. The tail winds would seem rather strong there. And here;
Closing the gap between poor and rich through efficiency...and capital accumulation.
So, what's become of Thomas Piketty?
Macroeconomic prediction is a always a combination of generalization and chart following. More exactly
ReplyDelete(1) Construct a graph of some category in constant dollars,
(2) Opine on what will happen if that trend extends unimpeded into the future.
Do that with the stock market, and you will almost always lose your investment, except for the broadest index funds.
Most things may or may not happen, but I sleep better knowing that experts are watching closely and will tell me how things are working out.