The U.S. Economy Is Finally Living Up to Lowered Expectations

December 9, 2017

People are cheering that the U.S. economy is finally back to operating at its full potential, eight years after the global financial crisis ended. “U.S. Economy Reaches Its Potential Output for First Time in Decade,” the headlined its Congressional Budget Office, Federal Reserve Bank of St. Louis This chart makes the point. The red line represents gross domestic product. It just managed to cross the blue line, which is the Congressional Budget Office’s…

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Science Advances One Funeral at a Time. The Latest Nobel Proves It

October 17, 2017

The German physicist Max Planck said that science advances one funeral at a time. Or more friendly rival; they even play tennis together. “In the long run,” Azoulay said, “the best ideas probably win. But in the short run, lots of funky things can happen. Thaler’s career is an embodiment of the beginning and the end of that process.” Peter Coy Bloomberg Businessweek Columnist @petercoy Peter Coy is the economics editor…

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