... sums up the 3 main criticisms of economic performance during the period. The first is that output grew too slowly because of sluggish demand, the second that too much was invested abroad because of imperfect capital markets and the third was that productivity stagnated because of inept entrepreneurship. On the subject of "sluggish demand" McCloskey said that if faltering demand had been ... ...

• Word Count: 1116
• Approx Pages: 4
• Grade Level: Graduate