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Re: article on oil & dollars

Julio Huato wrote:

I would think that the true determinants of economic power are (1)
social institutions that constantly drive productivity growth, (2)
pre-existing productivity levels, and (3) resources.  That's what the
entire history of capitalism suggests.  No?


According to the official stats, US productivity accelerated after
1995 and the rest of the rich world's didn't. Odd how that happened
as the US international balance deteriorated so radically.

Doug

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