Is a short run upward blip a bubble when the long run trend is declining? Is the current stagnation a return to trend instead of a lagging recovery? Is real growth in decline?
Although Art doesn't mention it, others have noticed the relationship of growth to cost of energy and energy cost has been trending up since the Seventies oil embargo. Is increasing financialization of the economy related? Something to consider?
The New Arthurian Economics
Art Shipman
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