The Engine of Prosperity: A Big Workforce

The biggest question facing the U.S. economy: Why are people dropping out of the workforce?

The size of the labor force also goes a long way to determining America’s growth prospects. If, say, baby boomers are retiring faster than expected, then long-run U.S. economic growth will be lower than projected.

If you employ 10,000 people and earn $1 an hour more than their labor costs you, you make $10,000 an hour. That is unconscionable. We need reason guiding this system not mythology about the divinity of business.

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