azizonomics.com / By John Aziz / NOVEMBER 18, 2013
An impressive video featuring former Treasury Secretary Larry Summers has been making the rounds.
Summers makes the case that the United States and other Western nations may have reached a state of permanent stagnation in growth and employment. In Japan, per capita incomes grew strongly until the 1990s, and since then they have been growing very weakly and intermittently. Summers cites Japan as an early example of what might occur elsewhere.