Is slow economic growth here to stay? Writing in the Wall Street Journal, Ben Leubsdorf reports that this may be the case:
Actually, the U.S. growth slowdown is far less dramatic than these numbers would seem to indicate, because they are not adjusted for population. Once we do that, we find that real GDP per capita rose at a 2.2 percent annualized rate between 1947 and 2000, and at a 1.4 percent rate since the end of the recession. Slower population growth, therefore, accounts for almost half of the growth slowdown.