How much should this economy be growing? More than 1.8%, the first quarter number for 2011, that’s for sure. But how much, exactly?
Here are the basic trends. In the long, quarter-century booms of the second half of the 20th century, the economy grew at 3.3% per year. This was precisely the rate of GDP expansion from 1945 to 1973 and 1982 to 2007.
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