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Productivity gains are usually driven by business investment. ZIRP (zero interest rates) and large accumulation of debt in strange parts of the economy and ca
by jboydyhacker 10y ago
Productivity gains are usually driven by business investment. ZIRP (zero interest rates) and large accumulation of debt in strange parts of the economy and caused businesses to be reluctant to invest. Without that capital investment productivity tends to stagnate and growth mediates around 1-2% which is precisely where we are.