Nicholas Gregory Mankiwis an American macroeconomist and the Robert M. Beren Professor of Economics at Harvard University. Mankiw is best known in academia for his work on New Keynesian economics... (wikipedia)
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,
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,
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.
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.