The world’s biggest economy is leaving its peers ever further in the dust
In a more transactional world the price of influence is going up
The French leader has made a dangerous situation worse
Video timeline: 00:00 – A new green America 00:30 – Democrats are being ambitious 01:14 – Manufacturing will move to America 01:53 – Planning could be a stumbling block
To read more about Biden’s plans to remake America’s economy: https://econ.st/3IEGNiP
A selection of three essential articles read aloud from the latest issue of The Economist. This week, President Joe Biden’s plan to remake America’s economy, Ukraine’s troops in the east are quietly confident (11:20) and the race of the AI labs heats up (18:10).
But America’s plan to spend $2trn could help save the planet
Illustration: Adele Morgan
The federal government is spending big to combat the economic damage of the coronavirus crisis, and federal debt has climbed to record levels. WSJ’s Jon Hilsenrath explains the debate over the impact of all that debt.
From an AARP.org online article:
“As the number of people over 50 grows, that age cohort is transforming markets and sparking new ideas, products and services across our economy,” AARP CEO Jo Ann Jenkins says. “And as people extend their work lives, they are fueling economic growth past the traditional retirement age.
Americans age 50 and up contribute so much to the U.S. economy that they’d constitute the world’s third-largest economy if they were counted as their own country, a major new AARP study finds.
The economic contributions of 50-plus Americans totaled $8.3 trillion last year, which puts them just behind the U.S. and China when measured by gross domestic product.
And that economic impact will grow significantly in decades to come, tripling to more than $28 trillion by 2050 as millennials and Generation Z begin to turn 50 in 2031 and 2047, respectively, the report finds.
Boomers Daily 