by James S. Albus

There are at least four causes of slow economic growth in the world today. In short these are:

1. Economic theory does not adequately take into account the effects of investment on technology and productivity.
2. Fiscal policy favors consumption over investment.
3. Monetary policy favors controlling inflation over stimulating rapid economic growth.
4. There exists no social contract that guarantees everyone a fair share of the benefits of rapid economic growth.

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