As the United States heads into a lost decade of economic growth, and as Europe and Japan fare even worse, some are wondering if the death of growth also means the death of capitalism. But not so, answer some economists, who are quick to point out that just because we all got accustomed to growth doesn’t make it an underlying tenet of capitalism is. Efficiency, not growth, is the key, and while we might not be seeing lots of growth, we are seeing plenty of efficiency. But does that really mean hope for the future, though?
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