Eighty-one economists from across the United States in their statement to German colleagues: "Unlike the U.S. economy, the German economy has managed to produce large gains in living standards for the vast majority of its work force over the last quarter century. Measured productivity growth in Germany has also significantly outpaced productivity growth in the United States, and by some measures absolute productivity levels are higher in Germany today. It is no surprise therefore that in Germany real wages should also be high." ---
Opinions are divided, absolutely speaking. So what's myth, and what's reality in the outcome of the expansionary U.S. monetary policy of the last decade? Perhaps some comparative statistics of real economic life could be helpful - irrespective of the statement.
HK