The sluggishness means the economy is operating well below its potential.

Those are the objections to Federal deficits when the economy is operating near its full potential, as is true today.

But reaching that goal requires a major transformation of how economies and businesses operate.

But the economy is now operating at full bore.

Moreover, I don't accept your claim that "the economy is now operating at full bore."

And given that the economy is operating at close to full capacity, the risks of inflation will reappear, he said.

The only meaningful economy here now operates in US dollars.

However, the world's economies are still operating on different business cycles.

In this case, however, the economy will operate at a lower level of income and expenditure.

Unfortunately, our economies still operate in a way that fails to take account of children's needs.