Producing Prosperity

CHAPTER 1

Introduction

A Look in the Mirror, and a Look Ahead

The financial crisis of 2008 and the ensuing Great Recession was the economic equivalent of a heart attack for the United States. It was not completely unexpected, but struck quickly. It created fear and uncertainty. Once it became apparent we would survive, attention quickly turned to how to nurse the patient back to health and how to prevent another economic heart attack. Much has been written, debated, and discussed about the reforms and regulatory changes that might be needed to prevent another financial meltdown, the right government policies (and particularly fiscal budgetary policies) to jump-start growth and reduce unemployment. There is, however, a big difference between ...