Yates Discusses the Paradox of the US Economy

On Saturday 29 October Professor Yates was invited as a guest on the radio program "Eco d'ici, Eco d'ailleurs", an hour-long economic show that is broadcast every Saturday on the French national radio station RFI.

Yates spoke about the state of the American economy in light of the declinist rhetoric coming out of the presidential elections. He reminded that the United States is the premier economic power in the world, representing around one fifth of the world GDP. It is rich in natural resources and a great exporter of cultural goods, with universities that attract brilliant students, placing the country at the cutting edge of technological progress. The US dollar has conserved its place as a reserve of value and the US stock exchange has drained the capital of the entire world towards the financing of its businesses, with numerous sectors remaining dominated by single American enterprises. Yet despite all of that, the perception in America of the US economy is one of decline.

With the radio host Jean-Pierre Boris and along wih the other guests, including former AGS economics professor William Stewart, Yates attempted to resolve this paradox.

Listen to the radio show (in French)