Michael Cox, chief economist at the Federal Reserve Bank of Dallas, gave a talk this morning about longterm economic trends that should have been mandatory for all presidential candidates–especially the Democrats. In a nutshell, Cox told the Association for Corporate Growth here, globalization has been a huge positive for the U.S. and the world, with higher living standards, an explosion in productivity growth, fewer economic downturns, more wealth, lower inflation rates and greater economic power for women. The U.S. needs to get serious about education–vouchers would help there, Cox said–but, in general, we’re living in a time of tremendous opportunity. Sure wouldn’t know it by listening to the politicians.
6 comments
Gee. Who can argue with that?
Glenn, do you write your posts long-hand before posting, or have you given that up?
Yes, I write out everything long-hand, usually on heavy bond paper. And always with a quill pen.
While wearing a top hat.
Glenn = Alibaster?
I just got off the phone with Michael Cox, he wanted to add,
“there is also a chance of rain in the future.”
“and robots”
“and space travel”
“in the future, that is.”