Slow economic growth - the "new normal"?

A few sobering thoughts from economist Marc Levinson:

"What some economists now call “secular stagnation” might better be termed “ordinary performance.” Most of the time, in most economies, incomes increase slowly, and living standards rise bit by bit. The extraordinary experience of the Golden Age [the quarter-century from 1948 to 1973] left us with the unfortunate legacy of unrealistic expectations about our governments’ ability to deliver jobs, pay raises and steady growth."

- Marc Levinson, Why the Economy Doesn't Roar Anymore, WSJ