30 years of economic growth?

Paul Krugman, again:

In short, how much of the apparent US productivity miracle, a miracle not shared by Europe, was a statistical illusion created by our bloated finance industry?

He cites this paper from June 2007 by Dean Baker and David Rosnick of the Center for Economic and Policy Research. I think if we as a nation start being honest with ourselves (starting with using more appropriate indicators of economic health) , we will find that we have a bit of growing-up to do.