Yes, he's one of the few economists who've cottoned on that we're into a
new era. Even so, he hasn't realized that it's because of the lack of
consumer incentive. There's nothing uniquely new to strive for (and
attain). Our senses are already stimulated to the full. We have no time or
energy or space for anything additional.
Nor did he point to an important correlate -- the decline in children per
family, to less than replacement level. This has been going on in Europe
for 40 years now, but only just reaching America in the last two or three
years.
Keith
:49 07/10/2013, you wrote:
http://www.nytimes.com/2013/10/07/opinion/when-wealth-disappears.html?nl=opi'
nion&emc=edit_ty_20131007
The writer is chief economist at a bank. His thesis: the future will not
resemble the past. Important.
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