Reasons for optimism in 2017?

A new policy direction in 2017 could substantially boost the economy. Last week I commented on the 15-year IPO winter and the possibilities for a revival of public equity financing of growing firms.

ipos-in-us-1980-2016

More broadly, my research for the last 10 years at the U.S. Chamber Foundation has focused on the collapse of economic growth, summarized in the chart below. (See also, for example, The Growth Imperative, Beyond the New Normal, The Growth Agenda, etc.)

growth-gap-3q16-revised-a

This $2.8-trillion “miss” translates into millions of lost job-years and stagnant incomes for most occupations in much of the country.

I’ll have lots more to say about the sources of — and potential solutions to — this growth gap in the coming weeks and months. For now, we highlight these severe shortfalls to reinforce just how crucial a new growth agenda is.

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