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The Optimist or Pessimist Economy?
I can't see or are very far ahead, obviously. I have trouble imagining a situation where the world economy is growing too fast. Very hard to imagine at present. My central assumption is that we're still in for a period of average growth rate and low inflation. So is the economy broken? No, I don't think it's broken. We just think we could do better. But most of the post-second World War economy is the best it's ever been. And so the fact that we're not doing as well doesn't mean we're doing badly.