ECONOMICS: US prosperity and growth in the 1990s*

A week or so back, ABC Radio National interviewed Dr Paul London, an American, who served both George Bush, senior, and Bill Clinton in important positions in the US Department of Commerce in the last few years of the twentieth century.Dr London correctly observes that the US economy was the engine of world economic growth in the decade of the nineties. He should have gone further. He might have added that the US economy has been an economic weather vane to the world for the last fifty or so yea…

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