Krugman and Richrd Green get into Peter Wallison for spouting the Republican Communist ideology. Follow the link through Krugman and see his chart.
This issue is why has growth slowed considerably since the 1970s, and what was Reagan's response. The answer please!
Growth did not really slow, except in developed economies. Growth in developing economies took off because information technology gave them absolute information about how to develop their economies, an instruction manual.
Reagan's response was to start the Communist bailout process, the extend and pretend to protect the various groups from losing out to technology. Reagan's whole gambit was to use government debt as a bailout resources, a process continued by lil Bush, and only interrupted for a period by Bill Clinton.
We are in this mess because Conservatives use debt and Federal expansion to protect their Conservative institutions, Progressives do the same.
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