The first part of the paper is discussion of a matrix that summarizes the current position of any national economy relative to productivity and inflation (both current and expected). The second part examines both Keynes and Supply-side economic theories. However, the paper’s significant feature is its focus the USA’s movement from an environment of low inflation factors along with high productivity to the quadrant where the environment is one of high inflation factors and low productivity. The low savings rate in the USA and the balance of trade deficit/international debt problematizes productivity. The second part also includes research that entails regression analysis.
|Keywords:||International Economics, Standard of Living, Productivity and Inflation|
Chair, Department of Social Work and Human Services, Lewis University, Romeoville, IL, USA
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