Tuesday, July 21, 2015

Sorry Noah Smith: There isn't just one way to boost GDP growth

Smith says we need more immigration to solve our low growth problem. There is an alternative. Have more children of our own.

Noah Smith, here:

"Gross domestic product is simply the product of output per person and the number of people. The more people in your country, the higher the output. That's why China, whose output per person is only about a quarter of the U.S.'s, is now the largest economy on the planet. It just has more bodies."