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Politics Proof Economics

Politics-Proof Economies?

Michael Spence | Posted 05.19.2014 | World
Michael Spence

There is little correlation between a country's relative economic performance in several dimensions and how "functional" its government is. In fact, in the six years since the global financial crisis erupted, the U.S. has outperformed advanced countries in terms of growth, unemployment, productivity, and unit labor costs, despite a record-high level of political polarization at the national level.