Robert Reich’s Recitation of First Year Economics
August 15, 2010 Leave a comment
Robert Reich’s view (he is a liberal economist) is a very simple one and it is contained in any principles of economics text–growth is still sluggish and unemployment is high; consumption is stagnant; business is not investing; and exports are not growing (we are not Germany). The only remaining option is increased spending on effective jobs programs. This will help Coral Gables and its businesses if you desire for more sales, trade, exports and demands for local services, and, eventually, even stable and slightly rising real estate values.
It’s nonsense to think of the economy heading downward again into a double dip when most Americans never emerged from the first dip. We’re still in one long Big Dipper.