4 ms·
What is never mentioned in articles like this is that the post-war period was a truly exceptional period in one respect: literally almost everything was supply-
by spwa4 1y ago
What is never mentioned in articles like this is that the post-war period was a truly exceptional period in one respect: literally almost everything was supply-limited. A bit less so in the US than in Europe.
Now it's the opposite: almost everything is demand-limited. If you asked a good economist "what factory needs building?", the answer would be none. Or the answer would be something like "the EU is about to outlaw calculator imports from China, build that factory".
One of these environments makes it much, much harder to grow.
Obviously this is a general trend, not a rule.
- mmooss 1y ago> almost everything is demand-limited. If you asked a good economist "what factory needs building?", the answer would be none. Could you give examples of economists saying that? There are current economic problems but those are self-inflicted. Before that, labor was in high demand in the US, in order to build and operate factories, etc.