Letter from the Editor

摘要

I can't think of a more important issue for America and the world as we approach the national presidential election than whether the U.S. can maintain its rate of expansion and even exceed it. But when an economist argued that Bernie Sanders's fiscal program could stimulate GDP growth to significantly faster rates, many mainstream economists rose in anger against the projections. The economic recovery has been long, yes, but it has been historically fairly torpid. Why economists were enraged by the idea we could grow much faster is a fascinating study in their own biases and lack of imagination. If we don't grow faster, wages will not grow and inequality will likely worsen. America may fester, bitterness spread, and lack of civility become the norm. Thus we devote this issue of Challenge to economic growth.