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Who Will Fix the US Economy?

An economy is simply an accumulation of transactions involving goods and services, mostly carried out by business enterprises. Their behavior is what matters, and this can be adequately perceived only on the ground, where the behavior occurs – where an economy is built, where it breaks, and where it must be fixed.

MONTREAL – Much commentary about the American economy nowadays leaves the impression that economists should fix its problems. But Washington is teeming with smart economists, and the problems remain.

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