“IT’S THE ECONOMY, STUPID”
This is a phrase that was used heavily in American politics in 1992 as a way for the Clinton campaign to unseat George H. W. Bush (by the way, it was successful). In drawing attention away from Bush’s strengths in foreign policy and instead focusing on the recession that had just ended and its lingering effects, the Democrats resonated with the electorate and were able to defeat a popular incumbent. The phrase resonates today as we enter the second decade of the twenty-first century; it is still the economy. The evolution of countries in the Middle East, natural disasters in Asia—everything has economic ramifications.
There are two key factors to consider in understanding the direction of our collective economy and ...
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