8/9  BIS central bankers' speeches  1 J. M. Keynes, The General Theory of Employment, Interest, and Money (London: Macmillan, 1936). 2 American economist Paul Samuelson developed the multiplier-accelerator effect to model these cyclical  movements. See P. A. Samuelson, “Interactions Between the Multiplier Analysis and the Principle of Acceleration,” Review of Economics and Statistics 21, no. 2 (1939):75–78.
At bottom, I expect that the flexibility of U.S. markets will continue to provide a nourishing environment for technological and process advances, and that very flexibility, along with sound monetary policy, will also allow the U.S. economy to enjoy the benefits of the evolving macroeconomic dynamics that accelerating productivity sets in motion.