40 years of bad economic advice destroyed 40% of our prosperity. The economists who advised Reagan and Thatcher promised their policies would accelerate growth. The opposite happened. US per capita growth before Reagan: 2.5% annually. After: 1.7%. UK growth before Thatcher: 2.4% annually. After: 1.75%. That 0.8% difference means our per capita income is now 40% lower than it should be. What went wrong? Textbook economics is based on accounting errors. China understood this. They ignored Western
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FacebookDr. Steve Keen
40 years of bad economic advice destroyed 40% of our prosperity. The economists who advised Reagan and Thatcher promised their policies would accelerate growth.
Dr. Steve Keen. . 40 years of bad economic advice destroyed 40% of our prosperity. The economists who advised Reagan and Thatcher promised their policies would accelerate growth. The opposite happened. US per capita growth before Reagan: 2.5% annually. After: 1.7%. UK growth before Thatcher: 2.4% annually. After: 1.75%. That 0.8% difference ...
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