Beyond The New Normal: A New Era Of Growth
We’ve seen this play before. Forty years ago, things also looked bleak. Inflation was starting to break out. Vietnam had dragged on for nearly a decade. Watergate was burbling. Oil prices were beginning a dramatic climb. We had entered what the Club of Rome asserted in its famous 1972 “Limits to Growth” report was a long state of decline. It was time to downgrade expectations, rein in ambitions, and hunker down for the lean decades ahead.