It will be innovation more broadly, and new technologies across all sectors of our economy, that will create long-term expansion for the economy and a new great cycle of job growth.(See The Next Great Growth Cycle.) Manufacturing is coming back, and is being revitalized by advancing technology from the full infusion of information technology to the seeming magic of emerging 3D printing.
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Our cycle of job creation and destruction can be jarring, and perhaps even unfair at times.
Equipped with that new knowledge, he gathers new experience on the job, and the cycle continues.
The job of invention does not complete the cycle of disruption that advances our world.
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Is this slowdown due to a systemic, permanent shift (like the evolution of digital music or the e-book) or is the industry simply mimicking the overall business cycle (after all, job growth is down in many sectors of the economy today)?
Nor has Mr Greenspan done a much better job than foreign central banks at smoothing the business cycle.
With the foreseeable path ahead still seemingly defined by slow growth, a much-desired virtuous cycle of stronger consumption, growth, and job creation remains elusive.
Positive political surprises could be the impetus for idle cash to begin creating a virtuous cycle of more jobs and higher equity returns begetting consumption and even greater job creation.
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The ratio of unemployed to job vacancies is falling, but not by much more than is typical at this stage of the cycle.
But surely a few of these governors and legislatures have come to realize that the way to create a long-term cycle of business growth is to foster a tax and regulatory environment that is favorable to all job creation, not just the kind that pops up on Entertainment Tonight.
Sharman Apt Russell has done a wonderful job of gathering bits of exotic butterfly lore to brighten up her account of the insect's life-cycle, its acrobatic sexual practices and its amazing gift for mimicry.
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