Stanford’s Lazear: While many argue the financial nature of the recent recession means recovery should be slow, other recoveries stemming from similar downturns in the past didn't go as tepidly as today.Even the Great Depression saw stronger snapbacks between downturns."Threats of higher taxes, the constantly increasing regulatory burden, the failure to pursue an aggressive trade policy that will open markets to U.S. exports, and the enormous increase in government spending all are growth impediments," writes Lazear, who was chairman of the President's Council of Economic Advisers from 2006-2009. "Policies have focused on short-run changes and gimmicks — recall cash for clunkers and first-time home buyer credits — rather than on creating conditions that are favorable to investment that raise productivity and wages," writes Lazear, now a professor at Stanford University's Graduate School of Business and a Hoover Institution fellow.
Please read more from source:
