Everyday low prices and free delivery on eligible orders. Yes, we now have smartphones and twitter, but previous generations introduced electric lighting, indoor plumbing and the internal combustion engine. In a new book, economist robert gordon argues that the period from 1870 to 1970 is a special century that is unprecedented and unlikely to be repeated. 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 lifealtering scale of innovations between 1870 and 1970 cannot be repeated. His latest entry into this debate over stagnation, the rise and fall of american growth, is likely to be the most interesting and important economics book of the year. Published on apr 23, 20 robert gordon says that the era of big innovation is over and that u. Perspectives on the rise and fall of american growth. Standard of living since the civil war, which demonstrates that the lifealtering. The rise and fall of american growth by robert j gordon.
In a new book, the rise and fall of american growth, the economist robert gordon argues that we are in the midst of an era of meager technological change. Rise and fall of american growth, the the princeton economic. People had leapt on the pessimism about innovation, and people completely overlooked the fact that, by far, the biggest contributor to future growth is about headwinds. One of the economists economics and business books of the year 2016. The paperback of the the rise and fall of american growth. Gordons most popular book is the rise and fall of american growth. The real cause of american growth hoover institution. Bill gatess advice on how to read one of the most provocative economics books of the year. Gordon is reframing the conversation about economic growth in america and the future trends in growth around the world. Jul 17, 2017 productivity boom economic growth can basically be distilled into two factorshours worked times workforce productivity. In the final chapter of the book, gordon mentions headwinds that he predicts will further hamper u. The rise and fall of american growth free summary by robert j. Northwestern economics professor robert gordon has a written a mostly very good and a very long book 762 pages in the print edition on the history of economic growth in the united states from 1870 to the present.
A sobering study reveals why only the rich can look forward to the future with cheer. Robert gordon talked about his book the rise and fall of american growth, in which he looks at the growth in the american standard of living between 1870 and 1970 and whether it will ever be seen. The us economy has been expanding wildly for two centuries. The death of innovation, the end of growth by robert gordon. Economist reframes conversation about growth in america. Jul 27, 2016 but the first 80% of robert gordons the rise and fall of american growth. Robert gordon serves as the director of the michigan department of health and human services, where he oversees medicaid programs, childrens protective services, food assistance, public health and many other statewide health and human services programs.
So says economist robert gordon, author of the rise and fall of american growth. Chief among the doomsayers is robert gordon, whose new book forecasts stagnant productivity for the united states for the foreseeable future. Aug 18, 2016 robert gordon has written a magnificent book on the economic history of the united states over the last one and a half centuries. Robert gordon, the special century, and the prospects for. Robert gordons book shows that with the right policies such a goal is achievable in the economic and social sphere, but the task will not be easy. Robert gordons the rise and fall of american growth is an extraordinary work of economic scholarship. Judging from all the hype, the economic book of 2016 is robert gordons the rise and fall of american growth. Gordon has written prolifically about the problems facing contemporary economic growth, casting a sobering doubt on the ability of our current innovations what he calls the third industrial revolution, including all our fancy gadgets to power the economy the way previous waves of invention. Gordon aims to show that future economic growth will inevitably be lower than during the golden period between 1870 and 1970, due to the declining marginal return on new technology. After 150 years, the american productivity miracle is over.
Faltering innovation confronts the six headwinds robert j. Standard of living since the civil war the princeton economic history of the western world by gordon, robert j. Rise and fall of american growth, the the princeton economic series of the western world robert j. A new book by economist robert gordonthe rise and fall of american growthis causing quite a stir. The final chapters are a kind of crescendo, for the whole book is organised to support gordons well known thesis that the days of miracle and wonder, the rapid growth era of the early to mid20th century, is long gone, and slower growth lies ahead of us. Economist robert gordon lays out 4 reasons us growth may be slowing, detailing factors like epidemic debt and growing inequality, which could move the us into a period of stasis we cant innovate our way out of. Gordon s book offers the definitive account of how the many technological innovations between 1870 and 1940 dramatically improved life in the united states. Growth in both productivity and standard of living continued apace until 1970. Robert gordon books list of books by author robert gordon. The book provides forecasts of growth in productivity and the standard of living over the next 25 years, from 2015 to 2040.
Yet there were early signs of a slowdown, of a shift from revolutionary to evolutionary change. Gordon is a wellknown economist and a professor at northwestern university. The final chapters are a kind of crescendo, for the whole book is organised to support gordon s well known thesis that the days of miracle and wonder, the rapid growth era of the early to mid20th century, is long gone, and slower growth lies ahead of us. The average american family of 1870 would have been astounded by the living standards of their 1970 descendants. Gordon contends that the nations productivity growth will. Gordon is among the most influential macroeconomists in the world. So gordons view may be as dark as all those presidential candidates views. Is the slowdown in economic progress in this new century an aberration or should we have expected it all along.
The book is without peer in providing a statistical analysis of the uneven pace of growth and. Apr 23, 20 robert gordon says that the era of big innovation is over and that u. Gordon is reframing the conversation about economic growth in america and the future trends in growth. Some experts think that the current global economic slowdown is a temporary blip in longterm growth. Robert gordon has written a magnificent book on the economic history of the united states over the last one and a half centuries. Understanding the productivity paradox economists are worried about a crucial measure of innovation in the economy. A new book by northwestern university professor robert j.
Robert gordon, erik brynjolfsson debate the future of work at. Judging from all the hype, the economic book of 2016 is robert gordon s the rise and fall of american growth. Perspectives on the rise and fall of american growth by robert j. Whether you consider him a pessimist or a realist, macroeconomist robert gordon has carefully studied the potential for continued economic growth in the us and deemed it dismal. The rise and fall of american growth the enlightened. Although the book was a dense 650 pages i thought that the time invested in reading it was amply rewarded. Dec 22, 2015 robert gordon, the special century, and the prospects for economic growth.
He is the author of a textbook in intermediate macroeconomics, now in its 12th edition, and has completed a new book, the rise and fall of american growth, published by the princeton. The life and times of muddy waters, and monet, and more on. Standard of living since the civil war by robert j. Robert gordon has 105 books on goodreads with 7518 ratings.
Economist robert gordons new book argues that we cant replicate the technological advances of the industrial revolution. Harris professor in the social sciences in the weinberg college of arts and sciences considered to be one of the most influential. American economic history g force books and arts the. His books include productivity growth, inflation, and unemployment and macroeconomics. Bill gatess advice on how to read robert gordons the. Yes, the american economy is in a funk but not for the. Why economic growth soared in america in the early 20th century, and why it wont be soaring again any time soon. His study focuses on what he calls the special century from 1870 to 1970in which living standards increased more rapidly than at any time before or after. Access a free summary of the rise and fall of american growth, by robert j. Why robert gordon thinks growth is over and what we. Gordon has long been associated with the view that future economic growth will be slower than that of the fairly. Northwestern economics professor robert gordon has a written a mostly very good and a very long book 762 pages in the print edition on the history of economic growth. Standard of living since the civil war, which demonstrates that the lifealtering scale of u. The short run meets the long run robert gordon distinguishing between secular.
My book forecast, going out 25 years in the future, productivity growth of 1. This paper raises basic questions about the process of economic growth. Development of the american economy, economic fluctuations and growth, productivity, innovation, and entrepreneurship. Gordons book offers the definitive account of how the many technological innovations between 1870 and 1940 dramatically improved life in the united states. Though his 784page book has drawn equal parts praise and ire, among its new fans is bill gates. Gordon has long been associated with the view that future economic growth will be slower than that of the fairly recent past. Jan 31, 2016 in the rise and fall of american growth, robert j. He argues that the period from 1870 to 1970 was truly a period of unprecedented economic and technological revolution, radically altering the practices of daily life. Robert gordons the rise and fall of american growth is an impressively researched, welldocumented economic history of the late nineteenth century and twentieth century us. The year 1940 is a somewhat arbitrary dividing point for gordon as he moves on to part ii of the book. Gordon declares that the kind of rapid economic growth we still consider our due was in fact a onetimeonly event. This paper raises basic questions about the process of economic. Gordon contends that the nations productivity growth will be further held back by the headwinds of.
Gordon is professor in social sciences at northwestern university. The rise and fall of american growth princeton university press. The rise and fall of american growth by robert gordon. Bill gatess advice on how to read robert gordons the rise and. Gordon challenges the view that economic growth can or will continue unabated, and he demonstrates that the lifealtering scale of innovations between 1870 and. Access a free summary of the death of innovation, the end of growth, by robert gordon and 20,000 other business, leadership and nonfiction books on getabstract. Erik brynjolfsson says that innovation is far from over and, that.
Gretchen whitmer appointed him to the position effective jan. Harris professor of the social sciences and professor of economics in the weinberg college of arts and sciences, systematically supported the thesis of his recent bestselling book, the rise and fall of american growth, by citing economic statistics that indicate the best years for growth in the united. Gordon and 20,000 other business, leadership and nonfiction books on getabstract. It provides a splendid analytic take on the potency of past economic growth, which transformed the world from the. But gordons book is notable for contrasting todays slowdown with the radical and impressive. Is the united states entering a period of sustained low economic growth. Gordon has 31 books on goodreads with 11441 ratings. So you can imagine my surprise when i discovered how much i liked it. Gordon, an economist at northwestern university has recently published an important new book, the rise and fall of american growth, which argues that the u. Robert gordon, erik brynjolfsson debate the future of work. Be sure to watch the opposing viewpoint from erik brynjolfsson. Robert gordons most popular book is cant be satisfied. Aug 29, 2017 robert gordon contends that the nations 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.
Gordon was included in the 2016 bloomberg list of the nations most influential thinkers. Robert gordon is an economist at northwestern university and the author of a book called the rise and fall of american growth. This years hot economics book, the rise and fall of american growth, by one of americas most distinguished macroeconomists, robert gordon, casts a pall on whether this is possible, arguing that the u. Robert gordon s new book discusses whether the best days of the u. Robert gordon is a macroeconomist with a particular interest in unemployment, inflation, and both the longrun and cyclical aspects of labor productivity. It questions the assumption, nearly universal since solows seminal contributions of the 1950s, that economic growth is a continuous process that will persist forever. See all books authored by robert gordon, including cant be satisfied. The death of innovation, the end of growth free summary by.
Economist robert gordon lays out 4 reasons us growth may be slowing, detailing factors like epidemic debt and growing inequality, which could move the us into. The rise and fall of american growth hashtag for twitter users. The rise and fall of american growth the enlightened economist. He is known for his work on productivity, growth, the causes of unemployment, and airline economics. Robert gordon, professor of economics at northwestern university, discusses his book, the rise and fall of american growth, in which he looks at the growth in the american standard of living. Lists with this book and then all hell broke loose by richard engel the rise and fall of american growth by robert j. Gordon discusses his book the rise and fall of american growth. Economist robert gordon s new book argues that we cant replicate the technological advances of the industrial revolution. He bases his outlook on an analysis of four growthslowing headwinds and the concept that future innovations must rival the gamechanging inventions of the 20th century. He is the author of a textbook in intermediate macroeconomics, now in its 12th edition, and has completed a new book, the rise and fall of american growth. Robert gordon, a celebrated economic historian and northwestern university professor, addresses these questions in his magisterial new book, the rise and fall of american growth. Rise and fall of american growth, the the princeton. The rise and fall of american growth is unquestionably an important book that raises fundamental questions about the united states economy and society.
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