Posts by Nicole Goodkind

  • Social Security and natural gas saved our economy: James Galbraith

    Nicole Goodkind at Yahoo Finance9 days ago

    When economists and analysts discuss the state of U.S. economic growth, they often use the 2008 financial crisis as the benchmark of what would be a return to "normal." James Galbraith, economist and author of, “The End of Normal,” uses a different standard.

    While Galbraith agrees that the years since the crisis have seen slower growth, low employment and a struggling housing market, he believes easy growth actually ended in the 1970s, and the U.S. economy has seen uneven growth and rising inequality since.

    There is, however, a way to get back to “normal,” says Galbraith. In his book he lays out what he believes to be the four factors that are impeding the economy. Amongst them are the rising costs of resources, overuse of military power, the digital revolution (and the job loss associated with automation) and the lack of regulation in the financial sector.

    Given all of these factors, says Galbraith, we shouldn’t be wondering why the economy isn’t recovering quickly, but should instead be asking why things haven’t gotten worse.

    Read More