Download or read book The Rise and Fall of American Growth written by Robert J. Gordon and published by Princeton University Press. This book was released on 2017-08-29 with total page 785 pages. Available in PDF, EPUB and Kindle. Book excerpt: How America's high standard of living came to be and why future growth is under threat In the century after the Civil War, an economic revolution improved the American standard of living in ways previously unimaginable. Electric lighting, indoor plumbing, motor vehicles, air travel, and television transformed households and workplaces. But has that era of unprecedented growth come to an end? Weaving together a vivid narrative, historical anecdotes, and economic analysis, The Rise and Fall of American Growth challenges the view that economic growth will continue unabated, and demonstrates that the life-altering scale of innovations between 1870 and 1970 cannot be repeated. Gordon contends that the nation's productivity growth will be further held back by the headwinds of rising inequality, stagnating education, an aging population, and the rising debt of college students and the federal government, and that we must find new solutions. A critical voice in the most pressing debates of our time, The Rise and Fall of American Growth is at once a tribute to a century of radical change and a harbinger of tougher times to come.
Download or read book Long term Growth of the U S Economy written by and published by . This book was released on 2006 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rate of long-term economic growth is the salient measure of the nation's ability to steadily advance its material living standard. The pace of long-term economic growth is likely to be a center of attention in the decades just ahead, as the U.S. economy confronts the need to undertake unprecedentedly large generational transfers of income to pay for the retirement of the huge baby-boom generation as well as large transfers of the rest of the world to meet the debt service costs of the United States' large and still growing foreign debt. For the United States, the long-term growth of real GDP per-capita over the last 125 years has revealed remarkable steadiness, advancing decade after decade with only modest and temporary variation from a trend annual average rate of growth of 1.8%. Overall, the limited variability of the rate of U.S. long-term growth, despite major changes in economic conditions, as well as economic and social policies, suggests that U.S. long-term growth may be governed by forces other than typical economic variables and may not be easy to alter with conventional economic policy. Nevertheless, the evidence of some degree of medium-term variability suggests the possibility of using economic policy to exert some influence. It is important to recognize that even relatively small differences in the rate of economic growth will steadily cumulate to have large effects on the scale of improvement in future living standards. Such an improvement would make the burden of future transfers on workers less onerous. Given a supporting social infrastructure that encourages and enables production of goods and services, economic theory and evidence make it reasonably clear that countries that have achieved sustained long-term growth such as the United States are those that invest a sizable fraction of current income in the accumulation of physical and human capital and have and continue to accumulate large stocks of both. As importantly, they are also economies that have been able to steadily raise the productivity of these two inputs through a steady advance of technical knowledge. There are reasons to believe, despite its evident economic success, that the United States, due to varying degrees of market failure, may under invest in each of the three determinants of economic growth. In theory, correcting that under investment through some form of government intervention could lead to an optimal increase in the rate of accumulation of each determinant, and through that to an acceleration of the economy's rate of economic growth. Knowing that there is the potential for improving on certain market outcomes in one thing. Designing economic policies that will efficiently induce these improvements is another thing. The information shortcoming about what, where, and how much to invest with which the policymaker would have to contend will often be substantial, and greatly raises the risk that the policy will be so bunt and misdirected that it will generate more economic costs than benefits.
Download or read book Foreign Exchange Value of the Dollar written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on International Trade, Investment, and Monetary Policy and published by . This book was released on 1984 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Long Term Growth of the U S Economy written by and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rate of long-term economic growth is the salient measure of the nation's ability to steadily advance its material living standard. The pace of long-term economic growth is likely to be a center of attention in the decades just ahead, as the U.S. economy confronts the need to undertake unprecedentedly large generational transfers of income to pay for the retirement of the huge baby-boom generation as well as large transfers to the rest of the world to meet the debt service costs of the United States' large and still growing foreign debt. For the United States, the long-term growth of real GDP per-capita over the last 125 years has revealed remarkable steadiness, advancing decade after decade with only modest and temporary variation from a trend annual average rate of growth of 1.8%. Overall, the limited variability of the rate of U.S. long-term growth, despite major changes in economic conditions, as well as economic and social policies, suggests that U.S. long-term growth may be governed by forces other than typical economic variables and may not be easy to alter with conventional economic policy. Nevertheless, the evidence of some degree of medium-term variability suggests the possibility of using economic policy to exert some influence. It is important to recognize that even relatively small differences in the rate of economic growth will steadily cumulate to have large effects on the scale of improvement in future living standards. Such an improvement would make the burden of future transfers on workers less onerous. Given a supporting social infrastructure that encourages and enables production of goods and services, economic theory and evidence make it reasonably clear that countries that have achieved sustained long-term growth such as the United States are those that invest a sizable fraction of current income in the accumulation of physical and human capital and have and continue to accumulate large stocks of both. As importantly, they are also economies that have been able to steadily raise the productivity of these two inputs through a steady advance of technical knowledge. There are reasons to believe, despite its evident economic success, that the United States, due to varying degrees of market failure, may under invest in each of the three determinants of economic growth. In theory, correcting that under investment through some form of government intervention could lead to an optimal increase in the rate of accumulation of each determinant, and through that to an acceleration of the economy's rate of economic growth. Knowing that there is the potential for improving on certain market outcomes is one thing. Designing economic policies that will efficiently induce these improvements is another thing. The information shortcoming about what, where, and how much to invest with which the policymaker would have to contend will often be substantial, and greatly raises the risk that the policy will be so blunt and misdirected that it will generate more economic costs than benefits. This report will be updated annually.
Download or read book Prosperity without Growth written by Tim Jackson and published by Taylor & Francis. This book was released on 2016-12-08 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: What can prosperity possibly mean in a world of environmental and social limits? The publication of Prosperity without Growth was a landmark in the sustainability debate. Tim Jackson’s piercing challenge to conventional economics openly questioned the most highly prized goal of politicians and economists alike: the continued pursuit of exponential economic growth. Its findings provoked controversy, inspired debate and led to a new wave of research building on its arguments and conclusions. This substantially revised and re-written edition updates those arguments and considerably expands upon them. Jackson demonstrates that building a ‘post-growth’ economy is a precise, definable and meaningful task. Starting from clear first principles, he sets out the dimensions of that task: the nature of enterprise; the quality of our working lives; the structure of investment; and the role of the money supply. He shows how the economy of tomorrow may be transformed in ways that protect employment, facilitate social investment, reduce inequality and deliver both ecological and financial stability. Seven years after it was first published, Prosperity without Growth is no longer a radical narrative whispered by a marginal fringe, but an essential vision of social progress in a post-crisis world. Fulfilling that vision is simply the most urgent task of our times.
Download or read book U S Long term Economic Growth Prospects written by United States. Congress. Joint Economic Committee and published by . This book was released on 1978 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economics of World War I written by Stephen Broadberry and published by Cambridge University Press. This book was released on 2005-09-29 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up under the strain, how economic development influenced outcomes and how wartime experience influenced post-war economic growth. Leading international experts provide the first systematic comparison of economies at war between 1914 and 1918 based on the best available data for Britain, Germany, France, Russia, the USA, Italy, Turkey, Austria-Hungary and the Netherlands. The editors' overview draws some stark lessons about the role of economic development, the importance of markets and the damage done by nationalism and protectionism. A companion volume to the acclaimed The Economics of World War II, this is a major contribution to our understanding of total war.
Download or read book The Ten Causes of the Reagan Boom written by and published by Hoover Press. This book was released on with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The U S Economy written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Economic Stabilization and published by . This book was released on 1992 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Education Skills and Technical Change written by Charles R. Hulten and published by University of Chicago Press. This book was released on 2018-12-26 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past few decades, US business and industry have been transformed by the advances and redundancies produced by the knowledge economy. The workplace has changed, and much of the work differs from that performed by previous generations. Can human capital accumulation in the United States keep pace with the evolving demands placed on it, and how can the workforce of tomorrow acquire the skills and competencies that are most in demand? Education, Skills, and Technical Change explores various facets of these questions and provides an overview of educational attainment in the United States and the channels through which labor force skills and education affect GDP growth. Contributors to this volume focus on a range of educational and training institutions and bring new data to bear on how we understand the role of college and vocational education and the size and nature of the skills gap. This work links a range of research areas—such as growth accounting, skill development, higher education, and immigration—and also examines how well students are being prepared for the current and future world of work.
Download or read book Regional Trading Blocs in the World Economic System written by Jeffrey A. Frankel and published by Peterson Institute. This book was released on 1997 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Covers trends from 1957 to 1995.
Download or read book The 4 Solution written by The Bush Institute and published by Currency. This book was released on 2012-07-17 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foreword by President George W. Bush With contributions from world renowned economists and Nobel prizewinners, The 4% Solution is a blueprint for restoring America’s economic health The United States is reaching a pivotal point in its economic history. Millions of Americans owe more on their homes than they are worth, long-term unemployment is alarmingly high, and the Congressional Budget Office is projecting a sustainable growth rate of only 2.3%—a full percentage point below the average for the past sixty years. Unless a turnaround comes quickly, the United States could be mired in debt for years to come and millions of Americans will be pushed to the sidelines of the economy. The 4% Solution offers clear and unflinching ideas on how to revive America’s economy. It sets a positive economic goal and asks some of the top economic minds on how to achieve it. With a focus on removing government constraints, The 4% Solution defines the policies that will allow Americans to save, invest, and create the jobs that the United States needs. The 4% Solution draws on the best minds in the business, including five Nobel laureates: · Robert E. Lucas, Jr., on the history and future of economic growth · Gary S. Becker on why we need immigrants in order to grow · Edward Prescott on the cost (to growth) of the welfare state · Vernon Smith on why housing leads us into and out of recessions · Myron Scholes on why we need to innovate in order to grow the economy
Download or read book The Great Inflation written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2013-06-28 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
Download or read book Long Term Growth of the U S Economy written by Craig K Elwell and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Understanding Long Run Economic Growth written by Dora L. Costa and published by University of Chicago Press. This book was released on 2011-10 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: The conditions for sustainable growth and development are among the most debated topics in economics, and the consensus is that institutions matter greatly in explaining why some economies are more successful than others over time. This book explores the relationship between economic conditions, growth, and inequality.
Download or read book Challenge to Economists written by John S. Hecht and published by London : P.S. King. This book was released on 1918 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Long Term Economic Growth written by United States. Congress. Economic Joint Committee and published by . This book was released on 1974 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt:
