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Notes from the dismal science

June 20, 2013

Kevin Drum points out the recovery has not boosted wages. Wages go hand-in-hand with jobs. Megan McArdle wonders what happens if we never regain an economy offering jobs as a route to middle class success.

If the internet isn’t boosting growth, one has to wonder if it is because its business models work more to save labor, cutting aggregate demand, rather than creating new end goods. Advances in the physical sciences correlate well with growth. No surprise there, whether it is causation or joint effect.

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