CNN Fareed Zakaria GPS April 14, 2013 14:04:00
In the 1970s the western world staggering under the world of oil shocks, rising wages, rocketing inflation and slowing productivity and growth, high taxes and sclerotic state-owned companies. these are not the problems we face now. today american and european workers struggle to keep up their wages as technology and globalization push them down. wage deflation, not inflation, is the pressing problem. western economies face global competition with other countries building impressive infrastructure and expanding education and worker training. they face a two-track economy where capital does well...
Source: archive.org