The New Economy became real after all, part 2

“That is the bad news. The good news is that the economy may be less volatile. A third of America’s 20th-century recessions were caused by industrial slumps or oil-price shocks, according to Goldman Sachs. Today manufacturing is just 11% of GDP and each dollar of output requires a quarter less energy than in 1999.”

New economy

https://www.economist.com/leaders/2019/07/11/americas-expansion-is-now-the-longest-on-record

 

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