A. In the long run, the economic well-being of a nation’s people depends on their productivity (output per hour produced) and their employment
levels. High productivity without jobs doesn’t work, nor does high employment with low productivity. How has productivity behaved in the US in the
past 60 years? How about unemployment?
B. What is the Conservative prescription for maximizing productivity and employment? Why did the US fail to achieve its potential in the
1970s and why did it perform better afterwards?
C. What is the Liberal prescription for maximizing productivity and employment? Why did the US fail to achieve its potential in the 1970s
and why did it perform better afterwards?
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