If Inflation’s Over Estimated Then We’re Richer Than We Think

That neoliberal economic theory that I ascribe to tells us that economic growth is going to be higher at a time of lower tax rates and greater deregulation of the economy. As those who like high marginal tax rates and regulation never tire of pointing out, economic growth was higher back in those years when we had those things, not neoliberalism. So much for my favoured theory then is one potential answer.

Another is to attempt to work out why this is so.…

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