USA Today covered PPI’s new report “U.S. Investment Heroes: The Companies Betting on America’s Future”and quoted PPI’s Michael Mandel and Diana Carew in a story on lagging U.S. private investment:
Five years after the crisis, the “investment gap” that Alcoa exemplifies stands as one of the most enduring and disabling legacies of the Great Recession. Companies have held off on spending as much as $2.2 trillion since 2008, estimates the Progressive Policy Institute in a new report — more than $500 billion just last year. That’s translating into lower productivity growth, slower economic growth — and fewer new jobs.
“When workers have older and less equipment, they produce less,” PPI Chief Economic Strategist Michael Mandel said. “It’s a very simple connection.”
“Investment is the foundation of growth,” said PPI economist Diana Carew. “With more investment, everything we think is lackluster now would see bigger gains.”
Read the entire article here.
