Seeds of Destruction: Why the Path to Economic Ruin Runs Through Washington, and How to Reclaim American Prosperity
Seeds of Destruction was written by the economists Peter Navarro and Glenn Hubbard. Dr. Hubbard was the first chair of the Council of Economic Advisors under President George W. Bush.
Navarro and Hubbard note that the annual growth in gross domestic product was 2.4% from 2000 to 2009, which they further note is much less than the annual rate of 3.2% for the years 1946 to 1999. They call the latter growth rate the potential growth rate, which seems to me to be misleading as the fact that an...more