PRESIDENT OBAMA HAS written an “open letter” of several thousand words to The Economist about capitalism, immigration, the economy and the economic areas on which his successor should focus.
The whole thing encapsulates the wrongheaded and obstinately held thinking that has brought the U.S. and the world economies to a near halt. The duration of the stagnation–and the feeling that there really is no end in sight–is breeding increasingly ugly politics.
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