The United States has spent a good portion of the past 20 years in or on the brink of economic recession. The Federal Reserve has kept interest rates at almost zero and the Federal Government has spent trillions on so-called “stimulus”, yet the standard of living for the average American continues to decline. Jobs are few and far between, age discrimination is rife and layoffs abound, yet politicians continue to “distract and deflect” everyone’s focus towards other issues and “kick the can down the road”.
Exporting Prosperity explores the statistics that actually drive many aspects of the economy, in sharp contrast to the “feel-good” numbers reported each day. Rather than speculate on the future using traditional measures of the stock market, interest rates, etc., it starts with the statistic that people feel directly – jobs (or lack thereof).
The author explores the relationship between unemployment, the trade deficit and other key measures of the economy. He spreads the responsibility for the country’s challenges equally and presents ideas to get back on track, some old, some new, some radical and some sensical. Intermingled with the numbers are anecdotes and a sense of humor, making the book entertaining as well as enlightening.