An important question and a vexing one: Why is the US recovery still so weak? Five years after the official end of the Great Recession, growth remains maddeningly subpar. Folks on the right like to talk about “uncertainty” stemming from President Obama’s economic policies, from Obamacare to environmental regulation to Dodd Frank. Folks on the left have latched onto a theory called “secular stagnation,” cooked up by former Obama White House economist Larry Summers, which see chronic inadequate demand – partially driven by income inequality — as the big problem.
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