Growth Fantasy of Tax Cuts and Small Government

They might even do harm.

Hope and faith only go so far.

Photographer: Peti Kollanyi/Bloomberg

Jeb Bush says that if he's elected president he wants to get us to sustained gross domestic product growth of 4 percent a year. I'm highly skeptical, and I'm far from the only one. But there are some true believers, who think that if we just do the right structural reforms, we can get there. University of Chicago economist John Cochrane, for example, has a long list of structural reforms that he thinks will do the trick.

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