The new economic paradigm is characterized by near-zero marginal cost thanks to greater technological efficiency. That is desirable because it allows us to do more with less, but it also contributes paradoxically to slowing economic growth.
Tag: Larry Summers
Investigating Secular Stagnation, Part 1: Wealth Disparity
Slow economic growth is afflicting the industrialized world. One cause of the malaise is a steadily growing gap between rich and poor.