Clive Crook
US: Democrats and Republicans share a delusion about productivity and wages
Progressive Democrats and “national conservative” Republicans are increasingly aligned on the failure of American late-stage capitalism. Real wages have been stagnant for decades, they say, even as productivity keeps going up. Economic growth is channelin...
2 months ago
The US is locked in a state of debt denial
Perhaps it’s unsurprising that Donald Trump and Kamala Harris are saying nothing about the country’s biggest economic-policy challenge – namely, how to rein in public borrowing. With an election to win, they’d rather emphasize lower taxes and/or higher pu...
4 weeks ago
America’s fiscal debt bears no favourable comparison to Japan’s
A popular rebuttal of the idea that the US ought to worry about its surging public debt is, “What about Japan?” America’s taxpayers are currently on the hook for 123% of gross domestic product, exceeding the previous record of 118% in the aftermath of the...
3 weeks ago