Higher GDP growth rates force borrowers toward higher interest rates over time.
He believed he could jump-start growth and force it from the top.
The risk in America now is that slower nominal growth will force firms and individuals to improve their balance sheets by spending less or by selling assets, exacerbating deflationary pressures.
But, in the longer run, the breakdown of an exchange-rate regime that did so much to foster growth may force the region's exporters to do things they have long talked about, such as improving education so as to increase productivity and foster domestic technologies.
Higher taxes on capital gains and dividends, abstracting from issues of equity and fairness, reduce real economic growth, cause weaker consumption and decreases in business capital spending, reduce employment, and labor force growth, and help bring about less potential output.
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But the debt left by the boomers adds to the drag of slower labour-force growth.
Nationwide, labour-force growth has been held back as workers give up the job hunt, go back to school, retire or go on disability.
But in the long term later retirement counters the trend to slowing labour force growth caused by an ageing population, more years spent in college, and a levelling out of women's participation.
Unemployment has fallen rapidly in all three, though as in the Midwest that is partly because of weak labour-force growth, a turnaround from the boom years when migrants from other states flooded in.
Likewise, low growth that is below trend in an economy with a high trend rate of growth (perhaps because of a fast-growing labour force or high productivity growth) will feel like a recession and will cause unemployment to rise.
Its decline from a peak of 10% in October 2009 has been helped by unusually stagnant growth in the labour force.
The economy needs to create more than 140, 000 jobs per month just to keep pace with the growth of the labour force.
For economic theories that see final demand as the driving force behind growth, recessions are simply a problem of a lack of consumer spending.
Sure they want to be certain it remains a viable force of growth in their country, but what sort of hand they should have spurring that process remains unclear.
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The fall in the unemployment rate is also due in great part to strangely low growth in the labour force, a troubling sign for the underlying vigour of the economy.
More troubling, unemployment in the past two years would have been even higher but for a disturbing lack of growth in the labour force: that is, the number of people either working or searching for work.
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It is ironic that competition through innovation by oligopolists may be the main driving force of growth and higher living standards, since oligopolies are often seen as a threat to the public interest and as a target for antitrust action.
In fact, if you ask me what the level of employment will be five or 10 years from now, I would probably ignore demand factors and focus on supply factors such as the expected growth in the labor force due to demographics and factors affecting the labor force participation rate.
Parity laws aren't the only force behind this growth, but experts say they're key.
The positive trade balance was "once again the main driving force for economic growth in Germany".
People who cross borders for education and business opportunity are a unique driving force for economic growth.
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This will offer a inexhaustible driving force for the growth of our relations.
With money printing the real force behind economic growth worldwide, Gundlach believes the GDPs are artificially inflated and expects a day of reckoning.
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The force of economic growth over time has given middle class people in America today things that would have been regarded as miracles a century ago.
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If structural reforms are not implemented, the latest recession may be mild, but, according to Tetsufumi Yamakawa, an economist at Goldman Sachs, long-term potential growth may decline to only 0.6% a year by 2009, as productivity growth stalls and the labour force shrinks.
In addition to empowering girls and women to get trained on technology in preparation for the jobs of the future, initiatives like this also help companies reach new levels of innovation with a more diverse labor force and promote growth of the global economy by filling unmet need for ICT-skilled workers.
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Much work lies ahead to mature this force, but its growth is largely on track.
As the revolution towards smartphones and tablets just begins to grow in these countries, QCOM will be a dominant force in making that growth possible.
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While Priceline continues to focus on leveraging higher travel demand from Asia, its expanding presence in Europe has been the driving force behind its strong growth.
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