He is known for his work on productivity, growth, the causes of unemployment, and airline economics. Fortune robert gordon is an economist at northwestern university and the author of a book called the rise and fall of american growth. Gordon, a highly respected economist at northwestern university, has produced what will endure as a masterpiece. Yes, the american economy is in a funk but not for the. Anybody who is tempted by this argument should read robert gordons magnificent new book. Faltering innovation confronts the six headwinds robert j gordon northwestern university and cepr cepr policy insight no.
Robert gordon, the special century, and the prospects for. Everyday low prices and free delivery on eligible orders. Dec 14, 2016 the best economics books of 2016 bigstock by. It traces how new technologies have transformed everyday living. Rise and fall of american growth, the the princeton economic. My book forecast, going out 25 years in the future, productivity growth of 1. Academic robert gordon, author of the rise and fall of american growth, which is the thomas pikettyesque economic must read of the year, is. He is the director of several awardwinning documentaries, including johnny cashs america and respect yourself. If you add up all of the innovations made from the late 1800s up to 1970, theres been no comparable stretch of economic growth, before or since, says economist robert gordon. In an important new book, economist robert gordon makes the case for pessimism. This expert thinks robots arent going to destroy many jobs. The rise and fall of american growth the enlightened economist. Robert aaron gordon 26 july 1908 april 7, 1978 was an american economist and professor at the school of business of the university of california berkeley, known for his works on business leadership, higher business education, business cycle theory and policy. 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.
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 aaron gordon 19081978, american economist robert gordon academic born 1966, scholar of italian studies rob gordon, lead character in the film version of nick hornbys novel high fidelity. Gordon, professor of economics at northwestern, in his landmark book this year, the rise and fall of american growth. Perspectives on the rise and fall of american growth by robert j. Gordon discusses his book the rise and fall of american growth. Gordon 2004, economics the rise and fall of american growth. 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. This is the uncomfortable vision put forward by robert j. Economist reframes conversation about growth in america. 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. Robert gordons notable history of economics and living standards by wendell cox 08202016 professor robert j. Gordon alvin hansen 1939 popularized the term secular stagnation, and we are now, at the suggestion of larry summers 2014, considering the application of hansens term to the current us economy, because the pace of output recovery in the five years since the business.
One of financial times best economics books of 2016. Rise and fall of american growth, the the princeton. Jul 27, 2016 bill gatess advice on how to read one of the most provocative economics books of the year. Erik brynjolfsson says that innovation is far from over and, that. Rise and fall of american growth, the the princeton economic series of the western world. A second issue is that throughout the first two parts of the book, gordon repeatedly explains why it is not possible to evaluate the impact of inventions through the gdp and price statistics, and therefore through the total factor productivity figures based on them and then uses the real gdp figures to downplay modern innovation. Standard of living since the civil war is a magisterial volume that will benefit any serious student of economics, demographics or. An american economist who teaches at northwestern university, mr gordon has long been famous in academic. Akerlof, of phishing for phools and animal spirits, among other books all princeton. Bill gatess advice on how to read robert gordons the.
Faltering innovation confronts the six headwinds, cepr policy insight no 63. A second issue is that throughout the first two parts of the book, gordon repeatedly explains why it is not possible to evaluate the impact of. Economist robert gordon says the second industrial revolution. Summary of the death of innovation, the end of growth. Soon all subsequent macro textbooks were expounding the expectations augmented phillips curve. The death of innovation, the end of growth by robert gordon. The data give an unambiguous answer that whoa whoa whoa. Third industrial revolution will not transform our lives.
Gordon, a distinguished macroeconomist and economic historian at northwestern, has been arguing for a long time against the technooptimism that saturates our culture, with its constant. Chief among the doomsayers is robert gordon, whose new book forecasts stagnant productivity for the united states for the foreseeable future. The rise and fall of american growth, robert gordon. Gordons popular text macroeconomics was the first to incorporate the rational expectations hypothesis into the analysis of the phillips curve. Robert gordon diagnoses americas growth problem time. Bill gatess advice on how to read one of the most provocative economics books of the year. D24,e2,e66,j11,j15,o3,o31,o4,q43 abstract this paper raises basic questions about the process of economic growth. One of the economists economics and business books of the year 2016. The rise and fall of american growth is unquestionably an important book that raises fundamental questions about the united states economy and. An american economist who teaches at northwestern university, mr.
Jan 31, 2016 in the rise and fall of american growth, robert j. A new book by economist robert gordonthe rise and fall of american growthis causing quite a stir. Economist robert gordon has spent his career studying what makes the us labor force one of the worlds most productive. Why robert gordon thinks growth is over and what we. The central thesis of the book is that some inventions are more important than others, and that the revolutionary century after the civil war. Third industrial revolution will not transform our lives us economist robert gordon takes aim at technophiles and their faith in innovation. The economist robert gordon clearly wasnt listening. For those of us concerned about socioeconomic trends and their consequences, robert gordons the rise and fall of american growth is one of the most important books well see in 2016.
Gordon has long been associated with the view that future economic growth will be slower than that of the fairly recent past. Introduction the prospects for future longrun us economic growth were already dismal in 2007 but were. Robert gordon, erik brynjolfsson debate the future of work. Gordon department of economics, northwestern university. 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. Free exchange the cost of innovation has risen, and productivity has suffered. Robert gordon is the author of it came from memphis, respect yourself.
After 150 years, the american productivity miracle is over. Robert gordon is a macroeconomist with a particular interest in unemployment. It questions the assumption, nearly universal since solows seminal contributions of the 1950s, that economic growth is a continuous process that will persist forever. Perspectives on the rise and fall of american 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. Some experts think that the current global economic slowdown is a temporary blip in longterm growth. Robert gordon economist world news, politics, economics. Though his 784page book has drawn equal parts praise. Robert gordon says that the era of big innovation is over and that u. Yes, we now have smartphones and twitter, but previous generations introduced electric lighting, indoor plumbing and the internal combustion engine. Department of education and was one of the architects of the obama administrations evidence agenda. The life and times of muddy waters, among other books. Robert gordons new book discusses whether the best days of the u. Robert gordons notable history of economics and living.
Robert gordon, erik brynjolfsson debate the future of work at. Be sure to watch the opposing viewpoint from erik brynjolfsson. Gordon is reframing the conversation about economic growth in america and. The us economy has been expanding wildly for two centuries.
The best economics books of 2016 the washington post. He is the author of a textbook in intermediate macroeconomics, now in its 12th edition, and has completed a new book. Gordon has long been associated with the view that future economic growth will be slower than that of the fairly. Mar 06, 2018 robert gordon is the author of it came from memphis, respect yourself. Rise and fall of american growth, the the princeton economic series of the western world robert j.
Robert gordons most popular book is cant be satisfied. We get insights from robert gordon who held top leadership roles at the white house office of management and budget and the u. Shiller is a nobel prizewinning economist, the author of the new york times bestseller irrational exuberance, and the coauthor, with george a. He is sterling professor of economics at yale university and a regular contributor to the new york times. 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 university press in january, 2016. American economic history g force books and arts the economist. 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. 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. Or is my time better spent reading 23 other good economics books of shorter. Gordon declares that the kind of rapid economic growth we still consider our due was in fact a onetimeonly event.
Department of economics northwestern university kellogg global hub 2211 campus drive evanston il 602082600. This expert thinks robots arent going to destroy many. Standard of living since the civil war, which demonstrates that the lifealtering. Robert gordon has 105 books on goodreads with 7518 ratings. Jan 26, 2016 buy the rise and fall of american growth. The economist offers authoritative insight and opinion on international news, politics, business, finance, science, technology and the connections between them. Economist robert gordon says the second industrial. Robert gordon is an economist at northwestern university and the author of a book called the rise and fall of american growth. 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. Why robert gordon thinks growth is over and what we can do about it. Productivity growth over the past century with a view of the future, nber working papers 15834, national bureau of economic research, inc. Gordon is reframing the conversation about economic growth in america and the future trends in growth around the world. 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. Apr 23, 20 robert gordon says that the era of big innovation is over and that u.
So says economist robert gordon, author of the rise and fall of american growth. 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. According to robert gordon, growth in the future wont be pretty. Harris professor of the social sciences at northwestern university. 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. This blog post is the third in a series that touches upon the issues the book covers. Dec 31, 2012 northwestern economist robert gordon caused a stir this year by arguing that americas best days of economic growth were well behind it. The rise and fall of american growth princeton university press. Robert gordon is a macroeconomist with a particular interest in unemployment, inflation, and both the longrun and cyclical aspects of labor productivity. Gordon contends that the nations productivity growth will be further held back by the headwinds of.
Stax records and the soul explosion, and cant be satisfied. His book, the rise and fall of american growth, makes a startling forecast that is unlikely to go down well in silicon valley. The rise and fall of american growth is unquestionably an important book that raises fundamental questions about the united states economy and society. The rise and fall of american growth the enlightened. Standard of living since the civil war, by robert j.
Bill gatess advice on how to read robert gordons the rise and. Gordon, 9780691175805, available at book depository with free delivery worldwide. If hes right, and one links this with growing income inequality, our wouldbe leaders will have difficulty in making the case for achieving the american dream through steady incremental progress achieved through collaboration and political compromise. Gordon, a distinguished macroeconomist and economic. Standard of living since the civil war the princeton economic history of the western world by gordon, robert j.
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