Economic expansion and development is the happy consequence of people participating in an extensive market division labor made possible by the accumulation of capital that is wisely invested and directed by entrepreneurs.

FORBES: 2 Percent Economic Growth: Real or Apparent?

The principal sources of an individual's higher earnings are more schooling and the accumulation of experience and skills in the labor market.

WSJ: Delay the Minimum-Wage Hike

The expansionary monetary policies pursued by Japan as well as the U.S. and European nations have thus far not been accompanied by fiscal reforms required to halt deficits and the accumulation of debt, or the fundamental structural reforms required in labor and capital markets to restore long term economic growth.

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