Posts Tagged ‘GDP growth’

Debunking Minnesota Economic and Fiscal Policy Myths

Minnesota is a land of 10,000 lakes and almost as many misconceptions about the size of government, growth in public revenue and expenditures, and performance of the state’s economy. Some of these mistaken beliefs are the result of an innocent misreading of the data, while others are the product of deliberate disinformation campaigns. The following…

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Convergence is Back! (It Never Really Went Away)

Convergence refers to the tendency of states with below average levels of economic activity to enjoy somewhat higher growth rates than other more prosperous states. Convergence occurs because less well-performing states tend to make up ground over time relative to more prosperous states as innovations and technology diffuse throughout the economy.* If convergence is real,…

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Conservative Think Tank's Report Misses the Mark

The Center of the American Experiment (CAE) released a new report today, bemoaning Minnesota’s “mediocre” economic performance since 2000. Some of the trends noted in the report are legitimate, while others are not. However, the insinuation that “Minnesota’s blue-state policies” are “responsible for its economic underperformance” is bogus and unsupported by information in the report…

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State Trend in Sub-Par GDP Growth Reverses Under Progressive Policies

In the post-World War II era, Gross Domestic Product (GDP) has been the principal way of measuring economic growth or contraction. Based on this widely accepted measure, Minnesota’s economy has slightly underperformed the national average over the course of the current century, but has outperformed the national average in the two years since the enactment…

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Minnesota GDP Growth Above Average Since 2013 Tax Act

Minnesota conservatives have complained loudly and repeatedly that tax increases in general—and the tax increases enacted in 2013 in particular—will ruin the state’s economy, as businesses flee in response to an “uncompetitive” business environment. However, a recent review of Gross Domestic Product (GDP) compiled by the U.S. Bureau of Economic Analysis (BEA) shows that economic…

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