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In theory, the ingredients of economic growth are capital and investment. In practice, not so much.
Last year saw the worst decline for U.S. GDP in 74 years.
Besides the high costs of raising children, the cost of living is often cited as one of the key deterrents for young parents.
“If people don’t have money in their pockets, then this type of economy that we have can’t work,” says Wharton professor Mauro Guillén.
That makes it the first major economy to rebound since COVID-19 hit.
It depends on how you read the data, economist Megan Greene of Harvard says.
“We’re seeing the alarming cost of the lockdown,” Zanny Minton Beddoes said.
The economic boom of the 19th century cannot be attributed to capitalism alone, according to professor Homa Zarghamee.
President Trump in Davos celebrated low- and middle-class gains. But staples of the blue-collar workforce, like manufacturing, are not faring well.
Oxford Economics says San Francisco will see the fastest economic growth over the next two years among U.S. cities, thanks to its strength in the tech sector.