Still, most private economists have concluded that a downturn began this summer and is likely to last well into next year.
"An economist from Mars would conclude that the same government had been in charge throughout the second half of the 1990s."
In the latter instance, the economists concluded the best policy is to give legislation a rest for a few years.
But economists long ago concluded that import restrictions are the wrong way to deal with domestic problems.
Economists have done research in the productivity issue and concluded that there are three possible explanations for the paradox.
But economists who believe in the wealth effect are concluding that there has been a lot less bang for the buck than they had expected.
These economic reports lead some private economists to conclude that declining interest rates alone will not be sufficient to revive the economy.
Apart from the wishes of central banks, many economists have concluded that the dollar must eventually fall substantially further.
As a result, many economists have concluded that the Fed will not move again on rates until next spring regardless of what the economic numbers show.
The economist might conclude that this employment has raised the local standard of living, stabilized communities and contributed to the public good.