Former Governor of the Federal Reserve The Federal Reserve Alan Greenspan said the U.S. economy failed because of imitating China and young people are lazy.
Greenspan admitted concerned with young people of productive age in the U.S., which he values lazy. Similarly, country trade policies, which he said was too emulate China. This he made in an article in The Globalist.
Americans, he said, walking upside-related policies to increase employment through trade policy. According to him, the increased employment was due to increased trade. If the increase exceeds its capacity, will decline in productivity and living standards.
America needs to create jobs, Greenspan continued, leading to recruitment of low-paid and unproductive labors. Those who are clever and not clever than their predecessors, is a bad thing for the U.S. economy.
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