On Thu, 30 Oct 2003, Doug Henwood wrote:
> 7.2% is not sustainable. The U.S. is not China today, or S Korea 10
> years ago, or Japan 20 years ago. The question is whether we can
> sustain the 4-5% necessary to bring back job growth. That's not so
> clear.
I'm no economics wonk, but I wonder about the logic of this: isn't it possible to have 4-5% economic growth without any domestic job growth? Increase productivity and labor hours for existing workers, farm out more and more jobs overseas, and the economy could sputter along with minimal job growth, couldn't it?
Miles