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Chapter One: The State of the American Economy


Published September 19, 2019

Economic growth in the United States has been positive for a decade, and has done quite well compared to other developed countries. The challenge ahead will be dealing with soaring federal deficits, driven by excess spending. Recent tax cuts may have increased the deficit, but cross-country analysis shows that total spending matters more for growth rates.

Video Recorded: August 20, 2018

Discussion Questions

  1. What are the effects of immigration on the United States economy?
  2. What is the current U.S. deficit and debt? How are they different?

Additional Resources

  • Read “How Trump Can Hit 3% Growth – Maybe” by Edward Lazear. Available here.
  • Read “The Surprising Factor for Immigrant Success” by Edward Lazear. Available here.
  • Read “Bad and Good Inequality” by Gary Becker. Available here.
  • Read “A New Immigration Game Plan for the New Congress,” by Edward Lazear in the Wall Street Journal, available here.
  • Read “Send Us Your Young, Your Educated” by Edward Lazear in the Wall Street Journal, available here
  • In “Examining America’s Exceptional Economy,” Edward Lazear explores what has made America's economy successful, what sets it apart from other nations, and what needs to be done to sustain its prominence in the global economy. Available here.