Potemkin prosperity

Lawrence lawrence at krubner.com
Sun Sep 30 18:24:36 PDT 2001


From: "Carl Remick" <carlremick at hotmail.com>
> As should have been obvious at the time,
>the ballyhooed prosperity of the Clinton Administration was built on sand;
> the terrorist attack has merely catalyzed inevitable economic deterioration
> that was already well under way.

You go too far saying the whole of the 90s boom was built on sand. It seems clear there was at least some increase in productivity, and there was obviously an increase in the supply of labor. That portion of the growth based on those 2 things are real. You might reasonably argue that the productivity numbers put out during the boom were inflated, that the actual numbers were lower. However, some increase no doubt occurred, and that increase in wealth was real.



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