arroba Email

Democracy & Technology Blog U.S. economy: Sturdy as she goes

Contrary to reports in the popular press, neither Chinese stock market swings nor the sub-prime mortgage market are likely to stop the American expansion.

Will there be more foreclosures, bankruptcies and sad stories? Yes, yes and yes. Will it bring down the current expansion? Unlikely – the diverse and flexible nature of the $13 trillion U.S. economy gives it a depth and sturdiness that is vastly under appreciated.

See this good column from our friend Ashby Foote on the sturdiness of the U.S. economy.

Bret Swanson

Bret Swanson is a Senior Fellow at Seattle's Discovery Institute, where he researches technology and economics and contributes to the Disco-Tech blog. He is currently writing a book on the abundance of the world economy, focusing on the Chinese boom and developing a new concept linking economics and information theory. Swanson writes frequently for the editorial page of The Wall Street Journal on topics ranging from broadband communications to monetary policy.