Growing Prosperity: The Battle for Growth with Equity in the Twenty-first CenturyHoughton Mifflin, 2000 - 345 pages The sudden drop in America's productivity rate beginning in the early 1970s and the simultaneous increase in income inequality made a generation of American economists pessimistic about the nation's ability to grow faster or to deal with the growing gap between the rich and everyone else. Barry Bluestone and Bennett Harrison review the historical record and offer an elegant explanation of why the productivity drought occurred and why it is finally over. The potential for a sustained era of economic expansion more equitably shared is on the horizon, thanks to the revolution in computer and information technology that has now come of age.But potential, the authors argue, is one thing; realization is another. Though optimistic about the productivity boom, Bluestone and Harrison do not believe that the payoff to the technology revolution can be fully realized without a sea change in economic policy. Their discerning analysis reveals that the current obsession with federal debt reduction and inflation control -- the very essence of what they call the "Wall Street model" -- will in fact sabotage growth. Only by embracing a "Main Street model" that revitalizes government-sponsored R&D, public infrastructure, education, and training -- all of which have helped underwrite spectacular economic growth spurts in the past -- can America reach its potential for equitable expansion in the coming century. Flying in the face of the ruling economic orthodoxy, GROWING PROSPERITY is a beautifully argued work that goes beyond critique to envision a way to add $3.2 trillion to the economy over the coming decade. With its provocative thesis and its clear prescriptive message, it will be of great interest to everyone with a stake in our economic future. |
Table des matières
Growth with Equity | 1 |
A History of American Growth | 27 |
Americas New Growth Potential | 50 |
Droits d'auteur | |
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Growing Prosperity: The Battle for Growth with Equity in the Twenty-first ... Barry Bluestone,Bennett Harrison Aucun aperçu disponible - 2000 |
Expressions et termes fréquents
aggregate demand Alan Greenspan American Prospect annual average billion Bluestone boom boost budget Business Week century Clinton countries decade decline earnings economic growth Economic Policy Institute Economic Report economists factors families faster growth Federal Reserve firms forecast free trade GDP growth global glory days Greenspan growing growth rate Growth theory higher improvement income increase industries inequality inflation innovation interest rates investment Jorgenson labor force participation labor market labor productivity labor supply Lester Thurow manufacturing ment NAIRU nearly nomic output Paul Romer Phillips curve physical capital postwar potential President private sector productivity growth prosperity rising Robert Romer savings rates social Street virtuous cycle Street-Pennsylvania Avenue accord syllogism tion trade deficit trend unemployment rate unions virtuous cycle Wall Street Journal Wall Street model Wall Street virtuous Wall Street-Pennsylvania Avenue Washington wealth workers workforce World York