Honestly, the "two most significant developments in the American economy"
are not "economic phenomena". An honest economist would have to admit simply
that there is no adequate *economic* explanation for either.
This should be no more difficult than an honest mathematician admitting that
there is no adequate mathematical explanation for Dante's _Divine Comedy_.
That it is difficult for an economist to admit the importance of
non-economic phenomena points directly to the source of the "decline of
economics": hubris.
>> There's an article with this title in the current New Yorker, by
>> John Cassidy. One quote:
>> "A number of important economic phenomena remain beyond our comprehension.
>> The two most significant developments in the American economy over the
>> past twenty years are the slowdown in productivity growth and the
>> increase in wage inequality, and honest economists admit that they
>> don't have an adequate explanation for either."
>>
>> Any honest economists care to comment?
>> Walter Daum
Regards,
Tom Walker
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