Economist Warns Bricophiles: Trees Do Not Grow To The Sky
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  • Luke Lea

    My take: “Russia isn’t emerging — it’s still in decline. Brazil isn’t playing in the same league as India and China, and India [isn’t in the same league as China]. 🙂

  • If you want to know how accurate predictions of the future are likely to be, go back maybe 30-50 years and read what they were saying about out time.

  • Toni

    One of Rodrik’s insights struck me as pertinent to the US and other distressed economies of the West.

    “But igniting and sustaining rapid growth requires something more: production-oriented policies that stimulate ongoing structural change and foster employment in new economic activities. Growth that relies on capital inflows or commodity booms tends to be short-lived. Sustained growth requires devising incentives to encourage private-sector investment in new industries – and doing so with minimal corruption and adequate competence.”

    The US is having trouble sustaining middling economic growth because it lacks the very factors cited. Rampant corporate cronyism (practiced by both parties) is corruption laid down in law. The current administration lacks adequate competence to balance its regulatory pursuits with enabling an economic recovery.

    The history of economic success is the history of innovation and competition. What saps innovation and hobbles competition dampens economic success. That’s *really* an inconvenient truth.

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