Fantastic piece from Kenneth Rogoff on Project Syndicate dissecting our current (and future?) economic malaise into its component parts. I would argue that the financial crisis was the tipping point into the trough, but I agree that there is a tremendous innovation gap that will keep us at below trend growth for years to come. Lack of credit to small businesses despite the flood in liquidity from central banks will only perpetuate the problem.
Innovation Crisis or Financial Crisis?
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