Robert Gordon argues rising standards of living brought by cars, indoor plumbing and electricity can;t be replaced by iPhones and the internet. Martin Feldstein disagrees.
gdp
Consumer Confidence in Florida Hits Another Post-Recession High as US Economy Grows 4%
The consumer-confidence report coincides with the Department of Commerce’s report Wednesday morning that the national economy grew at a brisk annual 4 percent rate in the second quarter, compared to a shrinking of 2.1 percent in the first quarter.
Economic Growth Contracts By 0.1 Percent In Worst Showing Since 2009, With Asterisks
It is a sharp and unexpected decline from the previous quarter’s 3.1 percent growth rate, but may be due top one-time shocks, including a 22 percent decline in military spending and Hurricane Sandy. Several indicators, including personal spending and saving and residential investment, are encouraging.
Taxes, the Economy, the Stimulus: Separating Fiction from Fact
Answers to recurring questions of the day: what’s the state of the economy, are Americans really as overtaxed as they think they are, and what has the 2009 economic stimulus accomplished–or not?