1996: The Adam Smith Address an Ambitious Agenda for Economic Growth
In this presidential election year, it has become fashionable to advocate faster economic growth as the elixir to cure all that ails the American society. Surely an average annual growth rate in the neighborhood of 2 percent is anemic, whether we view it in historical terms or by the current standards of the economies of China and Southeast Asia. Faster growth produces all sorts of good things, such as lower budget deficits, more new jobs, higher incomes, and rising living standards. Thus, who can object to the general idea of achieving larger economic output?
KeywordsAverage Annual Growth Rate Equal Employment Opportunity Commission Expenditure Program Rise Living Standard Subsidized Lending
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