Nicholas Grossman
1 min readNov 16, 2017

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As the numbers show, investment is at historic highs and growing as well as it ever has.

Growth is pretty good too. The United States grew at 3.1% last quarter, which is the highest rate since 2005 (and that was helped by the housing bubble). Over the last three years, the U.S. economy has grown faster than Japan, and at similar rates to the U.K. and Germany. It’s doing well for an advanced economy.

The last time growth was over 4% was in the later 1990s. And that was boosted by the invention of the internet and the post-Cold War peace dividend, neither of which are happening again.

As for jobs, the unemployment rate is down to 4.4%, which is basically full employment. The U.S. economy added jobs every single month since September 2010 — until September 2017, mostly due to hurricanes — which was the longest uninterrupted streak of job growth in history. And October 2017 got back on track, adding 261,000 jobs.

So the economy is growing and it’s created a lot of jobs.

If we follow up your question by asking about wages, which have grown slowly, the answer is a combination of automation taking good-paying manufacturing jobs, the decline of unions leading to a larger percentage of profits going to owners and shareholders, and the rise of healthcare costs sucking up a greater portion of compensation.

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Nicholas Grossman
Nicholas Grossman

Written by Nicholas Grossman

Senior Editor at Arc Digital. Poli Sci prof (IR) at U. Illinois. Author of “Drones and Terrorism.” Politics, national security, and occasional nerdery.

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