Despite the strong showing in third quarter, GDP growth since the official end of the recession in June 2009 has been substandard. Some worry that the U.S. may follow in Japan's footsteps, experiencing a "lost decade" of economic stagnation. It may sound strange, but here's one way to avoid Japan's fate: import young people.
Like many developed countries, Japan has a rapidly aging population. Countries with older populations have lower rates of entrepreneurship. Economic stagnation can be a consequence of slow...
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To read the original article: Edward Lazear: The Young, the Restless and Economic Growth - WSJ.com
