[Starwind]

The author, Alex Izurieta, is affiliated with the G24 Group and the paper linked above (.pdf) was prepared for that group. They are at Intergovernmental Group of 24

It was formatted to HTML by Starwind and posted with permission of the Author:

From: "Alex Izurieta" a.izurieta@cerf.cam.ac.uk
To: [ Starwind ]
Date: Sun, 2 Nov 2003 23:28:02 +0100
Subject: Re: Permission to publicly post "SLOW RECOVERY FABLE IN GROWTH-RECESSION TIMES ?"
...[snip...
As to posting the paper, well, thanks a lot for asking, since as
you said, you could have gone ahead and passed perhaps unnoticed.
Thus, I am going to say: "YES, by all means".
Yet, my preferred solution would be that you make a LINK
to the www.g24.org page where my paper lies, so that everyone
could accees it and also the G24 group (who had welcomed my ideas into its forum)
feels that the initiative has repercusion.
...[snip]...
Thanks again for your time and interest. I will, when
having some space, visit your page(s).
yours,
Alex

[Starwind]

For discussion...

[lelio]

Bump to read later.

[Consort]

Please synopsize in 25 words or less.

[Starwind]

Here's some helpful economic and financial glossaries:

Glossary of International Economics

Campbell R. Harvey's Hypertextual Finance Glossary

[RLK]

While I agree with some oth the conclusion, I find the language here ponderous and jargonistic beyond the point of migraine.

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This is only half a percentage point above the average over any eight-and-a-half years since WW2, and is certainly well below the average of the first 25 post-war years. Productivity growth of 2.1% (measured over the same cycle) was also half a percentage point higher than the post-war average, despite IT-driven breakthroughs. Finally, the 4% rate of unemployment in 2000, even if never so low in the previous three decades, was still higher than those experienced in economic upswings before the 1970s.

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I find the period from about 1947 to about 72-73 to be the longest boom period in American history. I use it as my model for study and comparison.

[JasonC]

Problem - the entire premise is that the economic is a basket case. The economy simply isn't not a basket case. The US economy has grown by more in the last 12 months than the entire economies of Australia, or Argentina, or all of Scandanavia, or all the ex-Soviet republics combined except Russia itself. In another year of the same it will have grown by more than the entire economy of eastern Europe, in two years. You can argue about what to do about recessions. To argue what to do about one you aren't in because the economy is growing is more than slightly daft. What is actually going on is the writer, having some economic patent medicine to sell, wants to tell us we can't live without it. We live without it just fine.

[Lazamataz]

From a surfers (serfers?) perspective, the tide may be going out, but look at those waves!!!!