Economics

About Those GDP Numbers

The U.S. Economy grew at 4.1 percent in the second quarter this year. That’s the fastest it’s grown in four years.

Likely the most significant determinant for the 2020 election is whether or not the next economic downturn arrives at a key time in the election cycle. One is coming, because that’s how the system works. The when and how bad are the variables. Presidents get too much blame or credit for short term economic outcomes. But they do drive election results.

Taking a departure on the Trump commentary though, Erik Brynjolfsson (LINK) who’s work with Andrew McAfee (LINK) gets a chapter in my book Sixteen (LINK), published an OpEd  (LINK) in the Financial Times that addresses the impacts of AI on productivity and how it looks like it’s starting to matter.

Productivity is good. But in the word of AI, it doesn’t mean jobs. Something to keep an eye on for the next 25 years or so. All the tariffs in the world not likely to address the issue.

Categories: Economics

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