Gregory Mankiw Quotations

would throw sand into the gears of human progress.

Now, to get back to the question about outsourcing, I think outsourcing is a growing phenomenon, but it's something that we should realize is probably a plus for the economy in the long run,

The economy is like a supertanker. It doesn't move on a dime. Policy can nudge it, but it takes a while before it starts moving and moving substantially.

The economy is like a supertanker, ... It doesn't move on a dime. Policy can nudge it, but it takes a while before it starts moving and moving substantially.

That is about average for a recovery. It's above the recovery we saw in the early '90s, but significantly below the recovery we saw in the early '80s. So it's a very sort of plausible forecast.

Such a decline would be an unwelcome headwind for the continuing recovery but it would not reverse the upward trajectory that we've been on,