AN OPTIMISTIC ECONOMIC LOOK AT THE LAST DECADE.

AN OPTIMISTIC ECONOMIC LOOK AT THE LAST DECADE. As people look back in dismay on the last decade, Tyler Cowen points out in this article in the New York Times that important good things happened during the decade. Many of the poorer countries in the world had solid economic growth for the decade. China, India, Indonesia and Brazil, accounting for more than 40 percent of the world’s people, all made great strides during the decade. Cowen, in a related post at his Marginal Revolution blog, links to this post about how “In recent years, a broad swath of African countries has begun to show a remarkable dynamism.” Reviews of a decade should address these developments, but as Cowen notes: “One lesson from all of this is that steady economic growth is an underreported news story.”