Playing it safe with economic polices threatens America's claim to global leadership.
If the US ceases to be the world’s economic leader, it can only blame itself.
In the last few weeks international institutions and prominent economists have warned that the global economy, especially the US, is facing the prospect of lower growth — not just a recession, but low growth for a decade or longer. Some of it will be caused by an aging population, but we are also choosing policies that will hobble our economy. You might think this would raise alarm bells and growth would become a priority, but instead it’s been met with a collective shrug — or even a doubling down on low-growth policies.
Continue reading the entire piece here at Bloomberg Opinion (paywall)
___________________
Allison Schrager is a senior fellow at the Manhattan Institute and a contributing editor of City Journal.
Photo by Win McNamee/Getty Images