Tuesday, October 16, 2012

Where will the economy go in the future?

Roger Pielke Jr. provides this graph from his blog.
"Never make forecasts, especially about the future."
Sam Goldwyn
One is tempted to suggest that we are seeing a temporary deviation from a very long term trend. If so, it would be a deviation only comparable to that of the Great Depression.

Of course, it may be a change in the trend itself, the beginning in a new trend in per capita GDP.

I suspect that the policies that we choose to follow in the next few years will determine which path the country will follow.

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