In the last twelve years the US has experienced a remarkable productivity revival. This has allowed the United States to speed ahead of other major advanced economies. The article explores the contribution provided by the US government and Congress to the nurturing of the new economy. In...

Good economic performance is usually taken to mean high growthrates, cutting-edge competitiveness, regardless of distributional consequences. Call that EP 1. I argue that a better policy objective is EP2 - achieving a fast enough growth of productivity, combined with a distribution of the...

The instability of the world financial system, starkly revealed in the recent debacle, is not the only problem it poses. The secularly increasing dominance of that financial system over the real economy is in itself a phenomenon that needs examining. The paper traces the source of this...