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Group Info Group Founded 3 Years ago Statistics 353 Members
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Group Info

The group mainly about American politics so if you have an interest into this you are allowed to submit art about American politics. Occasionally I will create debates by using the blog.

Rules for posting art:
1. It must be yours.
2. The artist must put it to the folder that he/she has political views in.
3. It must be about politics.

Note: There is an issue with uploading art to just ask me if you want to upload art and I will request it for you to accept.

Guidelines for the debates:
1. Bad language is not encouraged. We want to keep this as clean as possible.
2. Try no to hate on other users, example: "You fascist fool! You have no life!" If you have no evidence that he has no life and you keep saying that then you are a hater.
3. Try not to just disagree with something and leave it with that, when typing a comment add details on why you disagree with it. Example: "I disagree with liberals because...."
4. Try not to be a conspiracy theorist or a hippie. I have personal reasons for this.
Founded 3 Years ago
Oct 8, 2011


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We live in the shadow of "secular stagnation," to use a phrase now fashionable among economists. Even assuming a full recovery from the Great Recession, it's widely expected that the economy will grow more slowly.
In part, this reflects baby boomers' retirement, which reduces expansion of the labor force. Pre-recession growth was also artificially boosted by cheap credit. Forecasts have been cut, but they haven't been cut enough, says economist Robert Gordon.
If he's right, this could be our next nasty economic surprise.
Gordon, a respected Northwestern University scholar, contends that mainstream economic growth predictions are wildly optimistic. His own calculations are more restrained.
By 2024, he reckons, gross domestic product will be nearly $2 trillion lower — almost 10% — than projected by the Congressional Budget Office. Government debt will be 87% of GDP in 2024 instead of 78%.
Disappointing output will also pressure the Fed to move earlier against inflation by tightening credit, he says.
The gist of Gordon's argument is that the nation's productive capacity — what economists call "the supply side" — will expand only slowly. It won't keep up with the stronger consumer demand embodied in other forecasts.
As a result, inflationary pressures will be higher and GDP lower. The "economy is on a collision course between demand-side optimism and supply-side pessimism," he writes.
Although Gordon's analysis concerns economics, the underlying issues are political. Since World War II, advanced democracies — Japan, Western Europe, the U.S. — have depended on strong economic growth. It was a political narcotic: Wages and living standards rose, generating taxes to pay for generous "safety nets" and welfare benefits.
The financial crisis shattered the complacency, and the prospect is for years of modest or, in Europe, possibly nonexistent growth. How will political systems cope? Will class warfare intensify as groups battle harder for bigger shares of a stagnant pie? Will racial, ethnic, religious, generational and ideological conflicts worsen?
No one denies the reality of slower growth; the question is, how much slower. From 1950 to 1973, the U.S. economy grew almost 4% annually; until 2001, growth average slightly more than 3% a year. By contrast, the CBO's projection for the next decade is 2.1% annually, and Gordon's baseline estimate is a meager 1.6%.
Small annual differences, in a $17 trillion economy, quickly translate into hundreds of billions of dollars.
To forecast the economy's potential growth rate, economists estimate its two component parts: first, changes in the labor force and total hours worked; and second, changes in productivity, reflecting technologies, worker skills, management, etc..
Retiring baby boomers are a big drag on growth. Their exodus from the labor force means that millions of younger workers aren't expanding the labor force. They're simply replacing retirees. So, labor force growth is a third or less of the post-1950 average.
More controversial is productivity. Among economists, Gordon is a prominent techno-pessimist. He believes a burst of higher productivity from 1996 to 2004 was a one-time event reflecting the "invention of the Internet, Web browsing and e-commerce."
Exclude these years, he says, and productivity has grown slowly since the early 1970s, too long a stretch to ignore. He doesn't expect much change; other economists are more optimistic.
Who's right? All the anecdotal evidence seems against Gordon; hardly a day passes, it seems, without a new digital product or a corporate shakeup intended to enhance productivity. But statistics are firmly on his side; since 2010, annual productivity gains have averaged less than 1%.
While the economy operates above "full employment" — usually estimated as an unemployment rate between 5% and 6% — arguments about "potential" GDP growth seem academic.
The economy can temporarily exceed its potential growth by absorbing the unemployed and idle business capacity. But we are approaching an inflection point, and Gordon's projections are plausible.
Of course, they're subject to many influences. Additional business investment might improve productivity. A tight job market might raise wages and labor force participation.
Recovery from the Great Recession won't solve all our problems. We need to improve our long-term prospects. This is admittedly difficult. Economic growth is too complex a process to be easily manipulated by a few policy changes, even if they are desirable.
But prolonged sluggishness would turn the economy into a zero-sum game, where one group's gain is another's loss — no formula for social peace.

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slr1238 Featured By Owner Aug 8, 2014
Thanks for letting me join the group.
TheJourneyTaker Featured By Owner Aug 7, 2014
Thanks for letting me join!
boshthehedgehog Featured By Owner Jun 19, 2014
Thanks for letting me join your group!
DeltaHD Featured By Owner Jun 18, 2014
Are there any requirements For Joining???
Kajm Featured By Owner Jun 19, 2014  Hobbyist Writer
DeltaHD Featured By Owner Jun 19, 2014
boshthehedgehog Featured By Owner Jun 18, 2014
Are there any requirements for this group other than having an opinion on anything?  Because I am interested in joining and would like to submit some of my art.
Kajm Featured By Owner Jun 19, 2014  Hobbyist Writer
Come on in!
boshthehedgehog Featured By Owner Jun 19, 2014
J-R-M-N-K-E Featured By Owner May 28, 2014  Student General Artist
The 4 Global Conflicts and Great Power in the world tables been updated the file format to PDF because the writing was to small to read. That why I have to submit again sorry.
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