The Public Interest

The Productivity Perplex

Allan H. Meltzer

Fall 1990

IS AMERICA in decline? To listen to most commentators, one .would think that there is no longer any question about it; an out pouring of books, articles, and speeches proclaims our descent.  Problems such as drugs, crime, educational failures, and a low savings rate combine with our persistent trade and budget deficits to support these proclamations. According to a recent Harris poll, most Americans believe that our nation is on the way down.

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