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1. 1. Fully Grown

   Why a Stagnant Economy Is a Sign of Success

   

   Argues that the recent slowdown in U.S. economic growth largely reflects positive structural shifts—aging demographics, lower population growth, and a reallocation toward services with slower measured productivity—rather than policy failures or rising market power. It shows that mismeasurement explains little of the trend and that earlier successes in education and manufacturing left fewer easy gains. The result is slower GDP growth that can coexist with high living standards and welfare improvements.

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