With the global economy yet to recover from the 2008 economic crisis, concern about the future – especially of the advanced economies – is intensifying. But, with scientific progress surging forward, there is plenty of reason to believe that technological advances will continue to surpass our wildest dreams – and drive growth.
CHICAGO – With the global economy yet to recover from the 2008 economic crisis, concern about the future – especially of the advanced economies – is intensifying. My Northwestern University colleague Robert J. Gordon captures the sentiment of many economists, arguing in his recent book The Rise and Fall of American Growth that the enormous productivity-enhancing innovations of the last century and a half cannot be equaled. If true, advanced economies should expect slow growth and stagnation in the coming years. But will the future really be so bleak?
CHICAGO – With the global economy yet to recover from the 2008 economic crisis, concern about the future – especially of the advanced economies – is intensifying. My Northwestern University colleague Robert J. Gordon captures the sentiment of many economists, arguing in his recent book The Rise and Fall of American Growth that the enormous productivity-enhancing innovations of the last century and a half cannot be equaled. If true, advanced economies should expect slow growth and stagnation in the coming years. But will the future really be so bleak?