New York Times Column Says that High Wages are the Major Obstacle to Faster Growth

People may not have gotten that immediately picked this up from Ruchir Sharma's column complaining that not enough companies are going bankrupt, but this is the gist of the argument. Sharma complains that because of continuing fiscal stimulus (large budget deficits) and low interest rates from central banks, too many zombie companies are able to survive.

He tells us:

"The Bank for International Settlements, the global bank that serves central banks, says low rates are fueling the rise of “zom...