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This condition, which economists label 'secular stagnation', is associated with limp and vulnerable economic expansions, which often conclude in the deflation of big asset-price bubbles

when an economy like China grows from extreme poverty to something like middle-income status is 'capital deepening', or the application of more capital per worker

The less succour they receive from existing political institutions, the more open individual workers are likely to be to radical political institutions that offer the possibility of political expression and economic power

Baumol's cost disease means that the cost of many critical sectors in an economy tends to rise over time

Economists [...] point to 'Say's Law', [...] which is often summarized in the phrase 'supply creates its own demand'