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Gongol.com Archives: September 2004



The American Way (9.26.2004)
A Thought to Ruin Your Day
Economist Tyler Cowen has decided to ruin a perfectly fine day with the following wager: "I guess a 20 percent chance that some catastrophic event, possibly related to terrorism, will bring the world economy to a crashing halt. I guess a 20 percent chance that aging demographics will return our high rate of productivity growth to earlier levels." That's minus his 25% prediction that productivity growth will disappear altogether without reason. Even dismissing that 25% since it's offered without evidence, doesn't a nearly even-odds chance of increasing human misery sound unpleasant? Doesn't it help put the need for pro-growth agendas in perspective?



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