Obama throws some advice for his successor
Barack Obama is loving this whole magazine thing. Too bad it’s a dead-end career. Hot off his “guest editing” of Wired, the outgoing US president writes in an essay for the Economist that capitalism has been a driver of prosperity, even if productivity growth has declined and inequality has risen. The piece mixes a look back at his domestic achievements with a critical analysis of what to about the state of the US and global economy.
“The world is more prosperous than ever before and yet our societies are marked by uncertainty and unease,” Obama writes. His successor’s primary challenges: “boosting productivity growth, combating rising inequality, ensuring that everyone who wants a job can get one and building a resilient economy that’s primed for future growth.” Obama argues that bridging the gap between the rich and the poor brings social stability and faith in the government. He doesn’t miss the chance to criticize bipartisan politics and to blame Congress for less fiscal expansion than he wanted.
We’ll have a look tomorrow at why the next US president — whether Clinton or Trump — will have an exceptionally difficult time doing just that.