Ask someone in a third world country to do some basic addition and they can do it pretty easily. Ask the average American, and they can’t. We’ve become dependent on calculators. AI may be like this for a much broader range of thinking and we risk turning ourselves into morons.
The China shock was actually quite minor compared to the size of the US population. Most lost jobs are due to automation, not China. Tariffs don’t solve this. Dumb tariffs, like Trump’s tariffs, make it worse.
Government debt is a drag on economic growth.