How To Restore US Economic Growth

Michael Spence accurately describes the structural changes in the US economy that led to recession. In order for the US economy to grow it must increase its share of the global economy that will increase rapidly over the next 25 years. This means that it must become more competitive in the tradeable sector that it has allowed to erode in favor of the non-tradeable services sector. He outlines some of the things must be done to make this happen.