>We continue to hope.
>
>If the shift to a higher-investment economy induced by the
>deficit-reduction programs of 1990 and 1993 don't produce first a
>productivity boom and then a long-run real wage boom, then us
>Democratic neoliberals and Clintonistas will have put in place an
>economic policy that will have done good only for Republicans...
>
>How much longer do we have before we have to admit defeat?
Dunno. How long? Next downcycle?
So do you buy the blip in the productivity stats? Or is Roach right that hours worked are underestimated, and/or is Gordon right that it's all an artifact of computer prices?
Doug