Why Prosperity Is Hip, and Raises Living Standards
This column by ACRU General Counsel and Senior Fellow for the Carleson Center for Public Policy (CCPP) Peter Ferrara was published March 15, 2012 on Forbes.com.
From 1947 to 2007, the U.S. economy averaged real growth of 3.2% a year. At that rate, our GDP would double every 22 years. It is that sustained, long term economic growth that made the United States into the world’s dominant superpower.
Last year, U.S. real economic growth was a paltry 1.7%. The current quarter will probably not be much better. Historically, the deeper the recession, the stronger the recovery. That is because the U.S. […]

