Shareholder Payouts, Underinvestment and the Productivity Slowdown
Why have firms been underinvesting since 1980?
The United States is in long-term strategic competition with China. The game is looking increasingly rigged towards the latter. None of the clever stratagems cooked up by Washington can move the needle. Ultimately, the power that sustains greater rates of productivity growth will prevail. Productivity is also the master key to the standard of living and…
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