article thumbnail

Wise Economic Decision Making

Coaching Tip

economy before the end of the real estate boom. percentage points from GDP, based on the average of 2010's first three quarters. Not too long ago, housing was the workhorse of the U.S. In 2005, housing accounted for 6.1 percent of economic activity in the U.S.

article thumbnail

Behind China's Roaring Solar Industry

Harvard Business Review

We calculate that between 2010 and 2020, the people of China and India will have consumed goods and services worth a total of $64 trillion. In 1990, there were 227 million houses in China — by 2010, there were 371 million. Chinese consumers will spend $41.5 trillion over this period, with annual expenditures rising from $2.0

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Where the Next Wave of Urban Growth Will Come From

Harvard Business Review

Foshan is China's seventh-largest city in terms of GDP. In the United States, locus of the revolution's second stage, it took more than 50 years to double GDP. But a century later, when China and India industrialized, they doubled GDP in 12 and 16 years, respectively.

GDP 14
article thumbnail

What Alan Greenspan Has Learned Since 2008

Harvard Business Review

It’s true of GDP. Greenspan asked me to check that, and the actual line from the article was pretty close: “Asked in 2010 about those who warned that housing prices would crash, he responded, ‘Right. The dot-com boom when it collapsed, you can’t find it in the GDP figures in 2001, 2002. It didn’t happen.

article thumbnail

Why We Build Fiscal Cliffs

Harvard Business Review

In 2010, Congress voted to extend the 2001 cuts for two years. There's also a payroll tax holiday included in that 2010 deal, which was always supposed to be temporary. real estate market showing signs of recovery, this is probably a better time to talk fiscal restraint than two years ago. On the other hand, with the U.S.