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The real threat to American prosperity

Nobel-winning economist Daron Acemoglu on trade wars, tech industry hubris — and how loss of faith in US institutions could spiral

Even amid a tumultuous present, it is difficult to imagine a radically different future. But the fortunes of nations do change, often dramatically. Politics has consequences. For this reason, it pays to think creatively about what these consequences might be — and about how we might look to those living with them.

As an economist used to studying growth and stagnation over the long term, I can picture myself assessing American history in 2050 (assuming I am still alive and not senile by then). This story, of course, is yet to be told. But it could go something like this.

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