Labors Decline and Filling the Void
Everyone grows old and slows down. Global growth is no different. As the developed world struggles to achieve growth rates that it enjoyed before the Great Recession, the emperors of economics talk of secular stagnation arriving with the three horsemen of our economic apocalypse: low productivity, excess debt, and demographics. In a time of technological change and debt service at generational lows, the first two are not apparent inhibitors of growth. Economics provides a sim