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Edward Prescott and Lee Ohanian: Behind the Productivity Plunge, Fewer Startups

New businesses were created at a 30% lower rate in 2012 than the annual average rate in the 1980s. In the first quarter of 2014, GDP in the U.S. plunged at a 2.9% annual rate, and productivity—the inflation-adjusted business output per hour worked—declined at a 3.5% annual rate. This is the worst productivity statistic since 1990. And

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Posted: June 25, 2014 Wednesday 07:07 PM