Thursday, December 29, 2005

From TCS Daily - The Most Important Economic News of the Year

Quoth the inimitable Dr Kling:
TCS Daily - The Most Important Economic News of the Year: "The politicians have done nothing to slow the growth of entitlements. The mainstream media have totally missed the most important economic news of the early 21st century, which is the strong productivity growth. The state of the economy in 2005 is that it is performing well in spite of both the pols and the pundits."

Of more interest
In a recent TCS interview, Robert Fogel suggested that productivity growth of 2 percent per year would be sufficient to ensure the soundness of Social Security. With three percent productivity growth, even Medicare may be sound.

Yep, emphasis is added.

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